Townsquare Capital LLC Has $1.73 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Townsquare Capital LLC raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 47.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,943 shares of the financial services provider’s stock after buying an additional 625 shares during the quarter. Townsquare Capital LLC’s holdings in Equinix were worth $1,725,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cetera Investment Advisers boosted its holdings in Equinix by 220.6% in the 1st quarter. Cetera Investment Advisers now owns 8,118 shares of the financial services provider’s stock valued at $6,699,000 after purchasing an additional 5,586 shares during the period. Cetera Advisors LLC lifted its stake in shares of Equinix by 69.0% in the first quarter. Cetera Advisors LLC now owns 2,052 shares of the financial services provider’s stock valued at $1,693,000 after buying an additional 838 shares during the period. GAMMA Investing LLC grew its position in Equinix by 6.5% during the second quarter. GAMMA Investing LLC now owns 674 shares of the financial services provider’s stock worth $510,000 after buying an additional 41 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Equinix by 29.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,023 shares of the financial services provider’s stock valued at $774,000 after acquiring an additional 235 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Equinix in the 2nd quarter valued at approximately $30,000. 94.94% of the stock is owned by institutional investors.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $981.48 on Monday. The business has a fifty day moving average of $902.59 and a 200-day moving average of $833.34. The firm has a market cap of $94.70 billion, a PE ratio of 88.50, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71. 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, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix Announces Dividend

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

Insider Activity

In other Equinix news, CAO Simon Miller sold 569 shares of the company’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 transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This represents a 9.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 44.80 % 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 valued at $11,666,756 over the last three months. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on EQIX. BMO Capital Markets boosted their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Truist Financial increased their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their target price on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Scotiabank increased their price target 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. Finally, Mizuho lifted their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $962.56.

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.