Meeder Asset Management Inc. Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Meeder Asset Management Inc. acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 47 shares of the financial services provider’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its stake in shares of Equinix by 0.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after acquiring an additional 1,159 shares during the last quarter. Pinebridge Investments L.P. bought a new position in Equinix in the fourth quarter valued at about $3,724,000. Global Assets Advisory LLC acquired a new stake in shares of Equinix during the first quarter valued at about $15,187,000. Schroder Investment Management Group grew its holdings in shares of Equinix by 0.6% during the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after purchasing an additional 1,547 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in shares of Equinix by 48.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after buying an additional 2,133 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly 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 can be accessed through this link. In other Equinix news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction 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 is accessible through this link. Also, CAO Simon Miller sold 569 shares of the business’s 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 sale, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The disclosure for this sale can be found here. Over 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EQIX shares. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. TD Cowen lifted their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Truist Financial lifted their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Stock Performance

Shares of EQIX stock opened at $871.54 on Monday. 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, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The firm has a 50 day moving average of $811.47 and a 200-day moving average of $792.85. The company has a market cap of $82.74 billion, a price-to-earnings ratio of 87.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results 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). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business posted $8.04 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts forecast 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 will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is currently 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.