Equinix, Inc. (NASDAQ:EQIX) Stock Position Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 456.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,966 shares of the financial services provider’s stock after buying an additional 113,994 shares during the quarter. Thrivent Financial for Lutherans owned about 0.15% of Equinix worth $105,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in EQIX. Swedbank AB bought a new position in Equinix during the first quarter valued at about $294,526,000. Principal Financial Group Inc. lifted its holdings in Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after acquiring an additional 238,883 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. M&G Plc acquired a new position in shares of Equinix in the 1st quarter worth approximately $187,089,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Equinix in the 1st quarter worth approximately $145,308,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQIX has been the subject of a number of research reports. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 target price for the company. Barclays lifted their target price on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. TD Cowen upped their target price on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Mizuho upped their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $883.71.

Equinix Stock Up 0.7 %

Equinix stock opened at $877.20 on Friday. The firm’s 50 day moving average price is $820.42 and its two-hundred day moving average price is $792.56. The firm has a market cap of $83.25 billion, a PE ratio of 87.98, a P/E/G ratio of 2.11 and a beta of 0.71. 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 announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the business posted $8.04 earnings per share. Equinix’s revenue was up 6.9% on a year-over-year basis. On average, research analysts predict that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued 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 1.94%. Equinix’s dividend payout ratio is currently 170.91%.

Insider Activity at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred 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 directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by corporate insiders.

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.