Equinix, Inc. (NASDAQ:EQIX) Holdings Reduced by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,970 shares of the financial services provider’s stock after selling 111 shares during the period. Hartford Investment Management Co.’s holdings in Equinix were worth $5,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI raised its stake in Equinix by 10.8% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,468 shares of the financial services provider’s stock valued at $1,303,000 after acquiring an additional 143 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Equinix by 37.3% during the third quarter. Private Advisor Group LLC now owns 2,992 shares of the financial services provider’s stock valued at $2,656,000 after purchasing an additional 813 shares during the period. Segment Wealth Management LLC raised its stake in shares of Equinix by 1.5% during the third quarter. Segment Wealth Management LLC now owns 1,320 shares of the financial services provider’s stock valued at $1,172,000 after purchasing an additional 20 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Equinix in the third quarter worth about $1,775,000. Finally, Eastern Bank grew its position in Equinix by 4.7% in the 3rd quarter. Eastern Bank now owns 17,143 shares of the financial services provider’s stock valued at $15,217,000 after buying an additional 765 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Up 0.7 %

Shares of EQIX stock traded up $5.85 during trading hours on Wednesday, reaching $884.22. 18,069 shares of the stock traded hands, compared to its average volume of 525,119. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $83.92 billion, a PE ratio of 88.10, a PEG ratio of 2.13 and a beta of 0.71. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The business has a fifty day moving average price of $857.54 and a 200 day moving average price of $798.99.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $8.04 earnings per share. On average, equities research analysts forecast that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.93%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and lifted their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Evercore ISI upgraded Equinix to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Truist Financial lifted their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and a consensus target price of $914.36.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock valued at $8,282,119 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

About Equinix

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.