Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Eastern Bank

Eastern Bank grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,143 shares of the financial services provider’s stock after acquiring an additional 765 shares during the period. Eastern Bank’s holdings in Equinix were worth $15,217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Signaturefd LLC grew its stake in shares of Equinix by 6.0% during the third quarter. Signaturefd LLC now owns 1,357 shares of the financial services provider’s stock worth $1,205,000 after purchasing an additional 77 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Equinix by 21.2% during the third quarter. Sequoia Financial Advisors LLC now owns 2,025 shares of the financial services provider’s stock worth $1,798,000 after purchasing an additional 354 shares in the last quarter. Kessler Investment Group LLC grew its stake in shares of Equinix by 15.7% during the third quarter. Kessler Investment Group LLC now owns 6,862 shares of the financial services provider’s stock worth $6,091,000 after purchasing an additional 931 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Equinix by 8.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 756 shares of the financial services provider’s stock worth $671,000 after purchasing an additional 60 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Equinix by 12.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the financial services provider’s stock valued at $41,327,000 after acquiring an additional 5,189 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

EQIX traded down $1.17 on Tuesday, hitting $878.77. 89,596 shares of the company were exchanged, compared to its average volume of 526,749. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The business’s fifty day moving average is $856.57 and its 200 day moving average is $798.32. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The firm has a market capitalization of $83.40 billion, a P/E ratio of 88.43, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its earnings results 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.04 earnings per share. As a group, sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.94%. Equinix’s payout ratio is currently 170.91%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore ISI upgraded shares of Equinix to a “strong-buy” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group upped their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial upped their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. upped their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $914.36.

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.