Verition Fund Management LLC Purchases 6,963 Shares of Equinix, Inc. (NASDAQ:EQIX)

Verition Fund Management LLC raised its position in Equinix, Inc. (NASDAQ:EQIX) by 95.3% during the third quarter, HoldingsChannel.com reports. The firm owned 14,266 shares of the financial services provider’s stock after purchasing an additional 6,963 shares during the period. Verition Fund Management LLC’s holdings in Equinix were worth $12,663,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EQIX. LRI Investments LLC bought a new stake in shares of Equinix during the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the second quarter worth $30,000. GHP Investment Advisors Inc. lifted 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 last quarter. Fortitude Family Office LLC boosted its stake in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its holdings in shares of Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 0.2 %

NASDAQ EQIX opened at $981.48 on Friday. The company has a 50 day moving average price of $902.59 and a 200 day moving average price of $833.17. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The firm has a market cap of $94.70 billion, a PE ratio of 88.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.71.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.74%. Equinix’s payout ratio is 153.65%.

Insider Buying and Selling

In related news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. This trade represents a 99.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Simon Miller sold 569 shares of the company’s 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 transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock worth $11,666,756 in the last ninety days. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday. Barclays boosted their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Mizuho increased their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $962.56.

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.