Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 536 shares of the financial services provider’s stock after purchasing an additional 51 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Equinix were worth $476,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Equinix during the first quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix during the 2nd quarter worth $30,000. GHP Investment Advisors Inc. grew its holdings in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its position in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares in the company, valued at approximately $7,531,365. The trade was 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 Equinix news, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the transaction, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,906 shares of company stock valued at $9,071,764 in the last quarter. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $888.30 on Monday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The stock’s 50-day moving average is $869.56 and its two-hundred day moving average is $806.75. The firm has a market cap of $85.71 billion, a P/E ratio of 80.10, a price-to-earnings-growth ratio of 2.18 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.22.

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 analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.29% and a return on equity of 8.34%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business posted $8.04 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.92%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. TD Cowen boosted their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Mizuho raised their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $944.63.

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.