Graypoint LLC Buys 31 Shares of Equinix, Inc. (NASDAQ:EQIX)

Graypoint LLC grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 641 shares of the financial services provider’s stock after acquiring an additional 31 shares during the quarter. Graypoint LLC’s holdings in Equinix were worth $569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC bought a new stake in shares of Equinix in the 1st quarter valued at $31,000. GHP Investment Advisors Inc. raised its stake in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC lifted its holdings in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Equinix in the second quarter valued at about $36,000. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Equinix

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 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 transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,632 shares of company stock worth $10,633,777. 0.27% of the stock is owned by company insiders.

Equinix Trading Up 1.5 %

NASDAQ EQIX opened at $921.06 on Friday. The company has a market cap of $88.87 billion, a PE ratio of 83.05, a PEG ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02. The stock has a 50 day moving average of $877.98 and a 200-day moving average of $811.39. 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 data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.16 billion. During the same period last year, the business earned $8.04 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Mizuho raised 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. Wells Fargo & Company upped their target price on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $944.63.

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.