Hager Investment Management Services LLC Acquires New Stake in Equinix, Inc. (NASDAQ:EQIX)

Hager Investment Management Services LLC purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, Holdings Channel reports. The firm purchased 1,111 shares of the financial services provider’s stock, valued at approximately $1,048,000.

A number of other institutional investors also recently bought and sold shares of EQIX. State Street Corp raised its stake in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares during the period. Geode Capital Management LLC raised its stake in shares of Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after acquiring an additional 33,277 shares during the period. Principal Financial Group Inc. raised its stake in shares of Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after acquiring an additional 5,910 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Equinix by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after acquiring an additional 53,729 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Up 1.0 %

Shares of EQIX stock opened at $924.28 on Wednesday. The stock has a market cap of $89.18 billion, a price-to-earnings ratio of 83.34, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm’s 50 day moving average price is $942.07 and its two-hundred day moving average price is $888.17.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of research reports. TD Cowen lifted their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Scotiabank boosted their price target on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. Evercore ISI upped their target price on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. BMO Capital Markets upped their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price target on shares of Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $996.06.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,823 shares of company stock valued at $16,474,442 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.