Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,933 shares of the financial services provider’s stock after purchasing an additional 20 shares during the quarter. Griffin Asset Management Inc.’s holdings in Equinix were worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hutchens & Kramer Investment Management Group LLC increased its stake in Equinix by 16.3% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 414 shares of the financial services provider’s stock valued at $366,000 after purchasing an additional 58 shares during the last quarter. Creative Planning increased its stake in Equinix by 16.7% in the third quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 1,111 shares during the last quarter. Grove Bank & Trust increased its stake in Equinix by 8.1% in the third quarter. Grove Bank & Trust now owns 186 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 14 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Equinix by 15.2% during the third quarter. Wedge Capital Management L L P NC now owns 4,617 shares of the financial services provider’s stock valued at $4,098,000 after acquiring an additional 609 shares during the period. Finally, Sapient Capital LLC purchased a new stake in Equinix during the third quarter valued at about $252,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction 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 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 the SEC website. In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EQIX has been the subject of a number of research reports. Evercore ISI raised Equinix to a “strong-buy” rating in a research report on Wednesday, October 2nd. HSBC raised Equinix from a “hold” rating to a “buy” rating and boosted their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Mizuho boosted their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Finally, Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix has an average rating of “Moderate Buy” and an average price target of $907.21.

Equinix Stock Up 1.4 %

Shares of Equinix stock opened at $878.03 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The business’s 50 day simple moving average is $850.24 and its 200-day simple moving average is $795.64. The stock has a market capitalization of $83.33 billion, a price-to-earnings ratio of 88.07, a PEG ratio of 2.13 and a beta of 0.71. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results 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). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.04 earnings per share. Equities research analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s payout ratio is 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.