Equinix, Inc. (NASDAQ:EQIX) Stake Raised by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 340.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,190 shares of the financial services provider’s stock after acquiring an additional 5,556 shares during the quarter. Intech Investment Management LLC’s holdings in Equinix were worth $5,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cypress Capital Group raised its position in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 13 shares in the last quarter. MRA Advisory Group increased its stake in Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares in the last quarter. Lindbrook Capital LLC increased its stake in Equinix by 3.0% in the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 14 shares in the last quarter. Banco Santander S.A. increased its stake in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares in the last quarter. Finally, Abbrea Capital LLC increased its stake in Equinix by 5.5% in the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EQIX shares. Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Barclays lifted their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. The Goldman Sachs Group initiated coverage on Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price target on the stock. Royal Bank of Canada lowered their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $883.71.

Insider Activity

In other news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by company insiders.

Equinix Stock Up 0.7 %

EQIX opened at $877.20 on Friday. The firm has a market cap of $83.25 billion, a P/E ratio of 87.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The business has a 50 day moving average price of $820.42 and a 200 day moving average price of $792.56. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $8.04 EPS. Research analysts forecast that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

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

About Equinix

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.