MainStreet Investment Advisors LLC Takes Position in Equinix, Inc. (NASDAQ:EQIX)

MainStreet Investment Advisors LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 845 shares of the financial services provider’s stock, valued at approximately $639,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC bought a new position in shares of Equinix during the fourth quarter valued at $382,000. Private Advisor Group LLC lifted its holdings in Equinix by 18.9% during the 4th quarter. Private Advisor Group LLC now owns 882 shares of the financial services provider’s stock worth $711,000 after buying an additional 140 shares during the period. Apollon Wealth Management LLC grew its position in shares of Equinix by 165.4% in the 4th quarter. Apollon Wealth Management LLC now owns 921 shares of the financial services provider’s stock valued at $741,000 after buying an additional 574 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in shares of Equinix in the fourth quarter valued at about $581,000. Finally, Principal Securities Inc. bought a new position in shares of Equinix during the fourth quarter worth about $344,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, 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 sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The shares were 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 $4,559,334.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated 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 completion of the sale, 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. Insiders have sold 7,472 shares of company stock worth $6,154,812 in the last 90 days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the topic of several analyst reports. The Goldman Sachs Group began coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 target price on the stock. Mizuho started coverage on shares of Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price objective for the company. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. TD Cowen increased their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $876.71.

Equinix Stock Down 0.5 %

EQIX stock opened at $817.96 on Friday. The firm has a market capitalization of $77.63 billion, a PE ratio of 82.04, a P/E/G ratio of 2.03 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock’s 50 day moving average is $800.75 and its 200-day moving average is $794.06.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $8.04 earnings per share. Sell-side analysts expect that Equinix, Inc. will post 31.04 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.08%. Equinix’s dividend payout ratio is currently 170.91%.

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.