PDS Planning Inc Acquires 27 Shares of Equinix, Inc. (NASDAQ:EQIX)

PDS Planning Inc lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 555 shares of the financial services provider’s stock after buying an additional 27 shares during the period. PDS Planning Inc’s holdings in Equinix were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Norden Group LLC acquired a new position in Equinix in the first quarter valued at about $216,000. Private Advisor Group LLC lifted its holdings in shares of Equinix by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 931 shares of the financial services provider’s stock worth $769,000 after acquiring an additional 49 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Equinix by 4.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock worth $8,102,000 after acquiring an additional 414 shares in the last quarter. Jennison Associates LLC increased its stake in Equinix by 88.9% in the first quarter. Jennison Associates LLC now owns 56,563 shares of the financial services provider’s stock valued at $46,683,000 after acquiring an additional 26,612 shares during the last quarter. Finally, Whittier Trust Co. raised its position in Equinix by 2.3% during the first quarter. Whittier Trust Co. now owns 1,144 shares of the financial services provider’s stock valued at $944,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $895.92 on Tuesday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.16. The firm’s 50-day simple moving average is $871.10 and its 200 day simple moving average is $807.85. The stock has a market cap of $86.45 billion, a price-to-earnings ratio of 80.79, a PEG ratio of 2.18 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.34% and a net margin of 12.29%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business earned $8.04 EPS. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. Equinix’s payout ratio is currently 153.65%.

Insider Buying and Selling

In other Equinix news, CAO Simon Miller sold 569 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the completion of the sale, the insider now directly owns 6,505 shares in the company, valued at approximately $5,886,959.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,632 shares of company stock valued at $10,633,777. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQIX. Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their price target on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Mizuho boosted their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average price target of $944.63.

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.