Ensign Peak Advisors Inc Purchases 6,614 Shares of Equinix, Inc. (NASDAQ:EQIX)

Ensign Peak Advisors Inc increased its position in Equinix, Inc. (NASDAQ:EQIX) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,738 shares of the financial services provider’s stock after purchasing an additional 6,614 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.06% of Equinix worth $45,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in EQIX. CNB Bank boosted its stake in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Equinix in the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the 2nd quarter worth approximately $30,000. Rise Advisors LLC bought a new position in Equinix during the 1st quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. purchased a new position in Equinix during the second quarter valued at $36,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EQIX. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada dropped their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. The Goldman Sachs Group began coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Mizuho lifted their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Finally, Truist Financial increased their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insider Buying and Selling

In other Equinix news, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by insiders.

Equinix Price Performance

Shares of EQIX opened at $877.20 on Friday. The firm has a fifty day simple moving average of $820.42 and a two-hundred day simple moving average of $792.56. The firm has a market cap of $83.25 billion, a PE ratio of 87.98, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $8.04 EPS. On average, equities analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.