Harbor Capital Advisors Inc. Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

Harbor Capital Advisors Inc. boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,880 shares of the financial services provider’s stock after purchasing an additional 50 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Equinix were worth $1,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Inspire Trust Co. N.A. boosted its stake in Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares in the last quarter. GS Investments Inc. raised its holdings in Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after buying an additional 12 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Equinix by 50.0% in the third 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 in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Finally, Grove Bank & Trust increased its position in shares of Equinix by 8.1% during the third quarter. Grove Bank & Trust now owns 186 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EQIX shares. Evercore ISI upped their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. BMO Capital Markets raised their target price 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. Royal Bank of Canada lifted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group increased their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, HSBC raised Equinix from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Three research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $976.81.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock worth $7,906,218 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $899.83 on Monday. The stock has a market cap of $86.82 billion, a PE ratio of 81.14, a price-to-earnings-growth ratio of 2.48 and a beta of 0.73. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The firm has a fifty day moving average price of $941.47 and a 200-day moving average price of $872.25. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. Equinix’s dividend payout ratio is presently 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.