ProShare Advisors LLC Has $14.48 Million Position in Equinix, Inc. (NASDAQ:EQIX)

ProShare Advisors LLC raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 22.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,143 shares of the financial services provider’s stock after acquiring an additional 3,478 shares during the quarter. ProShare Advisors LLC’s holdings in Equinix were worth $14,484,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EQIX. CNB Bank increased its position 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 buying an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Equinix during the 2nd quarter valued at about $30,000. LRI Investments LLC bought a new position in shares of Equinix in the 1st quarter valued at approximately $31,000. Meeder Asset Management Inc. bought a new stake in Equinix during the second quarter worth approximately $36,000. Finally, Rise Advisors LLC bought a new stake in Equinix during the first quarter worth approximately $39,000. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $881.92 on Tuesday. The firm has a market cap of $83.70 billion, a P/E ratio of 88.46, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The firm’s 50-day simple moving average is $821.97 and its 200-day simple moving average is $791.59. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share 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 analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. 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 firm posted $8.04 earnings per share. As a group, research analysts expect that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.93%. Equinix’s payout ratio is presently 170.91%.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of analyst reports. TD Cowen boosted their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada decreased their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Barclays raised their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $883.71.

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.