Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Country Trust Bank

Country Trust Bank lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 23.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,241 shares of the financial services provider’s stock after acquiring an additional 7,751 shares during the period. Country Trust Bank’s holdings in Equinix were worth $35,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

EQIX has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group raised their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and upped their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $903.80.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were 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 in the company, valued at approximately $7,729,900. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brandi Galvin Morandi sold 864 shares of the 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 transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.3 %

EQIX opened at $872.51 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market cap of $82.81 billion, a P/E ratio of 87.51, a P/E/G ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The business has a fifty day simple moving average of $840.12 and a 200-day simple moving average of $792.99.

Equinix (NASDAQ:EQIX) last announced 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). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $8.04 EPS. On average, equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.95%. Equinix’s dividend payout ratio is currently 170.91%.

Equinix 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.