Bank of Montreal Can Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

Bank of Montreal Can grew its position in Equinix, Inc. (NASDAQ:EQIX) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,549 shares of the financial services provider’s stock after acquiring an additional 9,506 shares during the period. Bank of Montreal Can owned about 0.13% of Equinix worth $93,978,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. CNB Bank grew its stake in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the 2nd quarter worth approximately $30,000. LRI Investments LLC acquired a new position in Equinix during the first quarter worth $31,000. Meeder Asset Management Inc. purchased a new position in shares of Equinix in the second quarter valued at $36,000. Finally, Rise Advisors LLC acquired a new stake in Equinix in the 1st quarter valued at about $39,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on EQIX shares. Truist Financial increased their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada decreased their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft increased 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. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Trading Up 0.6 %

Shares of NASDAQ EQIX opened at $887.58 on Wednesday. The business has a fifty day simple moving average of $823.47 and a 200-day simple moving average of $791.43. The company has a market cap of $84.24 billion, a price-to-earnings ratio of 89.03, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

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

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.92%. Equinix’s dividend payout ratio is 170.91%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

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.