Equinix, Inc. (NASDAQ:EQIX) Stake Boosted by Larson Financial Group LLC

Larson Financial Group LLC increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 80.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 108 shares of the financial services provider’s stock after purchasing an additional 48 shares during the period. Larson Financial Group LLC’s holdings in Equinix were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position 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 worth $1,681,256,000 after buying an additional 5,910 shares during the period. Dimensional Fund Advisors LP increased its position 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 worth $1,009,293,000 after buying an additional 19,844 shares during the period. Charles Schwab Investment Management Inc. increased its position in 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 worth $1,006,724,000 after buying an additional 53,729 shares during the period. Clearbridge Investments LLC increased its position in Equinix by 21.5% in the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after buying an additional 159,576 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Equinix by 7.2% in the second quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider’s stock worth $665,807,000 after buying an additional 59,343 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.1 %

Equinix stock opened at $979.10 on Friday. The company has a market capitalization of $94.47 billion, a P/E ratio of 88.29, a P/E/G ratio of 2.51 and a beta of 0.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm’s fifty day simple moving average is $900.50 and its 200-day simple moving average is $831.45.

Equinix Dividend Announcement

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 is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.74%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Mizuho increased 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. Barclays increased their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Evercore ISI raised their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $952.88.

Insider Buying and Selling

In other Equinix news, insider Michael Earl Campbell sold 600 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $816.73, for a total value of $490,038.00. Following the sale, the insider now directly owns 14,800 shares in the company, valued at $12,087,604. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This represents a 99.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 in the last quarter. 0.27% of the stock is currently owned by company insiders.

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.