Tower Bridge Advisors Takes $209,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Tower Bridge Advisors acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 235 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other institutional investors also recently made changes to their positions in EQIX. Principal Financial Group Inc. boosted its position in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares during the period. Dimensional Fund Advisors LP boosted its position in Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares during the period. Clearbridge Investments LLC boosted its position in Equinix by 21.5% during the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after purchasing an additional 159,576 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Equinix by 7.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider’s stock worth $665,807,000 after purchasing an additional 59,343 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EQIX shares. BMO Capital Markets boosted their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. TD Cowen boosted their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Scotiabank boosted their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Finally, Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,654 shares of company stock valued at $11,577,656 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Down 0.1 %

Shares of NASDAQ EQIX opened at $897.37 on Monday. The stock has a market cap of $86.59 billion, a P/E ratio of 80.92, a P/E/G ratio of 2.25 and a beta of 0.71. The firm has a 50 day moving average price of $885.56 and a 200 day moving average price of $818.53. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

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.