Equinix, Inc. (NASDAQ:EQIX) Holdings Raised by Fortitude Family Office LLC

Fortitude Family Office LLC grew its position in Equinix, Inc. (NASDAQ:EQIX) by 50.0% in the third quarter, Holdings Channel.com reports. The fund owned 39 shares of the financial services provider’s stock after buying an additional 13 shares during the period. Fortitude Family Office LLC’s holdings in Equinix were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. abrdn plc increased its holdings in shares of Equinix by 10.4% in the 3rd quarter. abrdn plc now owns 311,625 shares of the financial services provider’s stock valued at $276,778,000 after acquiring an additional 29,231 shares during the last quarter. Worth Financial Advisory Group LLC increased its holdings in shares of Equinix by 14.1% in the 3rd quarter. Worth Financial Advisory Group LLC now owns 778 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 96 shares during the last quarter. Vanderbilt University increased its holdings in shares of Equinix by 10.1% in the 3rd quarter. Vanderbilt University now owns 8,857 shares of the financial services provider’s stock valued at $7,862,000 after acquiring an additional 816 shares during the last quarter. Smithbridge Asset Management Inc. DE increased its holdings in shares of Equinix by 85.0% in the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 1,349 shares of the financial services provider’s stock valued at $1,197,000 after acquiring an additional 620 shares during the last quarter. Finally, Sun Life Financial Inc. bought a new stake in shares of Equinix in the 3rd quarter valued at approximately $9,991,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EQIX shares. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Wells Fargo & Company boosted their price objective on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $927.67.

Insider Activity

In other news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Simon Miller sold 569 shares of the business’s 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 of the company’s stock, valued at $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,906 shares of company stock worth $9,071,764 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Equinix Trading Up 0.5 %

Shares of Equinix stock opened at $910.22 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market cap of $86.39 billion, a price-to-earnings ratio of 91.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The business has a fifty day simple moving average of $866.57 and a 200-day simple moving average of $804.08. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02.

Equinix (NASDAQ:EQIX) last announced 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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.04 EPS. On average, equities analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.87%. Equinix’s dividend payout ratio (DPR) is 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.