Procyon Advisors LLC Purchases 16 Shares of Equinix, Inc. (NASDAQ:EQIX)

Procyon Advisors LLC lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 307 shares of the financial services provider’s stock after purchasing an additional 16 shares during the period. Procyon Advisors LLC’s holdings in Equinix were worth $289,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Empirical Asset Management LLC bought a new stake in Equinix during the 4th quarter worth about $26,509,000. Retireful LLC bought a new stake in shares of Equinix during the fourth quarter worth approximately $802,000. Ritholtz Wealth Management lifted its holdings in Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after buying an additional 12 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Equinix by 20.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,607 shares of the financial services provider’s stock worth $1,515,000 after acquiring an additional 271 shares during the period. Finally, USA Financial Formulas bought a new stake in shares of Equinix during the 4th quarter valued at $342,000. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

NASDAQ EQIX opened at $915.59 on Monday. The firm’s 50 day moving average is $941.64 and its 200-day moving average is $876.70. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $88.34 billion, a PE ratio of 82.56, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.86%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the sale, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,412 shares of company stock valued at $18,826,100 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EQIX shares. The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Truist Financial upped their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Stifel Nicolaus upped their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Scotiabank lifted 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. Three 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, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $976.81.

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.