Van ECK Associates Corp Has $18.10 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Van ECK Associates Corp boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,309 shares of the financial services provider’s stock after buying an additional 1,716 shares during the period. Van ECK Associates Corp’s holdings in Equinix were worth $18,099,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cypress Capital Group grew its holdings in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group raised its stake in shares of Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 13 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Banco Santander S.A. raised its position in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Transactions at Equinix

In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction 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 owns 5,554 shares in the company, valued at $4,559,334.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $4,559,334.14. The trade was 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 this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,632 shares of company stock valued at $10,633,777 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Up 1.5 %

NASDAQ:EQIX opened at $908.99 on Wednesday. The firm has a market capitalization of $87.71 billion, a price-to-earnings ratio of 81.96, a PEG ratio of 2.14 and a beta of 0.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The business’s 50-day moving average price is $872.92 and its two-hundred day moving average price is $808.98. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.04 earnings per share. On average, equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.87%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Analysts Set New Price Targets

EQIX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. BMO Capital Markets boosted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Mizuho increased their price target 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. TD Cowen raised their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $944.63.

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.