Albion Financial Group UT Increases Holdings in Equinix, Inc. (NASDAQ:EQIX)

Albion Financial Group UT increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 947 shares of the financial services provider’s stock after acquiring an additional 118 shares during the period. Albion Financial Group UT’s holdings in Equinix were worth $782,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Mutual Advisors LLC boosted its stake in shares of Equinix by 6.0% during the 3rd quarter. Mutual Advisors LLC now owns 353 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 20 shares during the period. Ancora Advisors LLC grew its stake in shares of Equinix by 12.5% during the third quarter. Ancora Advisors LLC now owns 369 shares of the financial services provider’s stock valued at $268,000 after buying an additional 41 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Equinix during the third quarter valued at approximately $3,250,000. AQR Capital Management LLC increased its stake in Equinix by 4.6% in the third quarter. AQR Capital Management LLC now owns 24,697 shares of the financial services provider’s stock worth $17,937,000 after purchasing an additional 1,095 shares during the period. Finally, Truist Financial Corp increased its stake in Equinix by 44.6% in the 3rd quarter. Truist Financial Corp now owns 18,215 shares of the financial services provider’s stock worth $13,229,000 after buying an additional 5,620 shares during the period. 94.94% of the stock is owned by institutional investors.

Equinix Stock Down 1.0 %

Shares of EQIX stock traded down $7.38 during trading hours on Wednesday, reaching $749.00. 236,238 shares of the company’s stock were exchanged, compared to its average volume of 594,707. The stock has a market cap of $71.09 billion, a PE ratio of 75.13, a PEG ratio of 2.63 and a beta of 0.68. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock’s fifty day moving average price is $755.84 and its two-hundred day moving average price is $799.46. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.28%. Equinix’s payout ratio is 170.91%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EQIX. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research note on Wednesday, March 20th. Truist Financial raised their price objective on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 target price on shares of Equinix in a report on Wednesday, March 13th. Royal Bank of Canada cut their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Finally, Barclays upped their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $872.33.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

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.