Intech Investment Management LLC Purchases 5,556 Shares of Equinix, Inc. (NASDAQ:EQIX)

Intech Investment Management LLC increased its position in Equinix, Inc. (NASDAQ:EQIX) by 340.0% in the 2nd quarter, Holdings Channel reports. The firm owned 7,190 shares of the financial services provider’s stock after buying an additional 5,556 shares during the quarter. Intech Investment Management LLC’s holdings in Equinix were worth $5,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Gryphon Financial Partners LLC acquired a new position in Equinix during the fourth quarter worth $581,000. Brown Advisory Inc. acquired a new position in Equinix during the fourth quarter worth $288,000. Dynamic Technology Lab Private Ltd acquired a new position in Equinix during the fourth quarter worth $481,000. Corient Private Wealth LLC increased its stake in shares of Equinix by 4.1% in the fourth quarter. Corient Private Wealth LLC now owns 5,925 shares of the financial services provider’s stock valued at $4,772,000 after buying an additional 231 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Equinix in the fourth quarter valued at $210,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQIX. Truist Financial raised their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Mizuho raised their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada reduced their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Activity at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’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 value of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by insiders.

Equinix Stock Up 0.7 %

Shares of Equinix stock opened at $877.20 on Friday. The business’s 50 day simple moving average is $820.42 and its 200 day simple moving average is $792.56. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The firm has a market cap of $83.25 billion, a PE ratio of 87.98, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $8.04 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

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.