QRG Capital Management Inc. Has $1.55 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

QRG Capital Management Inc. reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 64.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,740 shares of the financial services provider’s stock after selling 3,149 shares during the period. QRG Capital Management Inc.’s holdings in Equinix were worth $1,545,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in shares of Equinix by 1.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 183,828 shares of the financial services provider’s stock valued at $163,171,000 after buying an additional 1,924 shares during the period. National Pension Service boosted its position in shares of Equinix by 8.4% in the 3rd quarter. National Pension Service now owns 239,985 shares of the financial services provider’s stock worth $213,018,000 after purchasing an additional 18,501 shares during the last quarter. Intact Investment Management Inc. boosted its position in shares of Equinix by 45.2% in the 3rd quarter. Intact Investment Management Inc. now owns 4,820 shares of the financial services provider’s stock worth $4,278,000 after purchasing an additional 1,500 shares during the last quarter. Blue Square Asset Management LLC boosted its position in shares of Equinix by 3.1% in the 3rd quarter. Blue Square Asset Management LLC now owns 2,223 shares of the financial services provider’s stock worth $1,973,000 after purchasing an additional 66 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 12,632 shares of company stock valued at $10,633,777. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on EQIX. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Barclays raised their price target on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Scotiabank raised their price target on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Hsbc Global Res upgraded 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Equinix Stock Performance

Shares of EQIX opened at $907.74 on Friday. The stock has a market capitalization of $87.59 billion, a P/E ratio of 81.85, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. The firm’s fifty day simple moving average is $874.46 and its two-hundred day simple moving average is $809.55. 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, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data 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 12.29% and a return on equity of 8.34%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business posted $8.04 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

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.