Equinix, Inc. (NASDAQ:EQIX) Position Increased by Profund Advisors LLC

Profund Advisors LLC increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,513 shares of the financial services provider’s stock after buying an additional 55 shares during the period. Profund Advisors LLC’s holdings in Equinix were worth $1,145,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CNB Bank boosted its stake 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 acquiring an additional 19 shares during the period. LRI Investments LLC bought a new stake in shares of Equinix in the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Equinix during the 2nd quarter valued at approximately $30,000. Rise Advisors LLC bought a new position in Equinix during the 1st quarter worth $39,000. Finally, Meeder Asset Management Inc. acquired a new stake in Equinix in the second quarter worth $36,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQIX. TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 target price on the stock. Royal Bank of Canada dropped their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Finally, Truist Financial increased their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

Insider Buying and Selling at Equinix

In other news, CAO Simon Miller sold 569 shares of Equinix 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 directly owns 5,554 shares in the company, valued at $4,559,334.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the firm’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 completion of the sale, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 over the last 90 days. Insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.5 %

Equinix stock opened at $881.92 on Tuesday. The firm’s 50 day moving average price is $821.97 and its two-hundred day moving average price is $791.59. 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, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The firm has a market cap of $83.70 billion, a PE ratio of 88.46, a P/E/G ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $8.04 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed 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. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is 170.91%.

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.