Oak Ridge Investments LLC Buys 535 Shares of Equinix, Inc. (NASDAQ:EQIX)

Oak Ridge Investments LLC lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 8.2% during the third quarter, Holdings Channel reports. The fund owned 7,066 shares of the financial services provider’s stock after buying an additional 535 shares during the quarter. Oak Ridge Investments LLC’s holdings in Equinix were worth $6,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of EQIX. CNB Bank raised its position in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the second quarter valued at about $30,000. LRI Investments LLC acquired a new stake in shares of Equinix during the 1st quarter worth approximately $31,000. GHP Investment Advisors Inc. raised its position in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Finally, Fortitude Family Office LLC lifted its position in Equinix by 50.0% in 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. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the business’s 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 of the company’s stock, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Equinix news, CAO Simon Miller sold 569 shares of the business’s 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 sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,906 shares of company stock worth $9,071,764. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EQIX shares. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Barclays lifted their target price on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Price Performance

NASDAQ EQIX opened at $908.08 on Friday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The firm has a market cap of $86.21 billion, a P/E ratio of 81.88, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50-day moving average is $868.35 and its two-hundred day moving average is $804.80.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.55% and a net margin of 12.29%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $8.04 earnings per share. On average, analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is presently 153.65%.

Equinix Company 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.