Waterfront Capital Partners LLC Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

Waterfront Capital Partners LLC raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 602.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,301 shares of the financial services provider’s stock after buying an additional 36,275 shares during the quarter. Equinix comprises approximately 5.2% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. Waterfront Capital Partners LLC’s holdings in Equinix were worth $37,548,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after buying an additional 19,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after purchasing an additional 53,729 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after purchasing an additional 813,666 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Equinix by 21.5% in the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock valued at $682,826,000 after purchasing an additional 159,576 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,754 shares of company stock worth $11,666,756. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Equinix stock opened at $979.10 on Friday. The stock has a market capitalization of $94.47 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 2.52 and a beta of 0.71. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The stock’s 50 day moving average price is $900.50 and its two-hundred day moving average price is $831.45. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EQIX shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Scotiabank upped their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and upped their price objective for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Mizuho boosted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group boosted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Five 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

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.