Pathway Financial Advisers LLC Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

Pathway Financial Advisers LLC grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 89,348.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 398,940 shares of the financial services provider’s stock after purchasing an additional 398,494 shares during the quarter. Equinix comprises about 3.5% of Pathway Financial Advisers LLC’s portfolio, making the stock its 9th biggest position. Pathway Financial Advisers LLC owned approximately 0.42% of Equinix worth $354,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CNB Bank raised its holdings in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares during the period. LRI Investments LLC bought a new position in Equinix in the first quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix in the second quarter valued at approximately $30,000. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Finally, Fortitude Family Office LLC lifted its holdings in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EQIX shares. Barclays upped their price objective on shares of Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company upped their target price on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. TD Cowen lifted their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $927.67.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $905.91 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a fifty day simple moving average of $864.73 and a two-hundred day simple moving average of $803.33. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The firm has a market cap of $85.98 billion, a price-to-earnings ratio of 90.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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 firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $8.04 EPS. Analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors 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 dividend on an annualized basis and a yield of 1.88%. Equinix’s dividend payout ratio is 170.91%.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares in the company, valued at $7,531,365. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock valued at $9,071,764 in the last 90 days. 0.27% of the stock is currently owned by company 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.