West Michigan Advisors LLC Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

West Michigan Advisors LLC grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450 shares of the financial services provider’s stock after buying an additional 21 shares during the period. West Michigan Advisors LLC’s holdings in Equinix were worth $399,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CNB Bank lifted 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 valued at $25,000 after buying an additional 19 shares during the last quarter. LRI Investments LLC bought a new position in Equinix in the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix in the 2nd quarter valued at approximately $30,000. Sugarloaf Wealth Management LLC grew its stake in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Equinix in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EQIX. Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $918.40.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Charles J. Meyers sold 6,234 shares of the firm’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 completion of the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,043 shares of company stock worth $8,282,119. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $895.76 on Friday. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $85.01 billion, a P/E ratio of 89.85, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a fifty day moving average of $858.53 and a 200-day moving average of $799.63.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company earned $8.04 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. Equinix’s dividend payout ratio is currently 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.