Equinix, Inc. $EQIX Stock: ProShare Advisors LLC Boosts Position

ProShare Advisors LLC raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,037 shares of the financial services provider’s stock after purchasing an additional 756 shares during the period. ProShare Advisors LLC’s holdings in Equinix were worth $18,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of EQIX. Vise Technologies Inc. increased its holdings in Equinix by 10.0% in the 3rd quarter. Vise Technologies Inc. now owns 4,056 shares of the financial services provider’s stock worth $4,103,000 after acquiring an additional 370 shares during the last quarter. Invera Wealth Advisors LLC purchased a new stake in Equinix during the third quarter valued at about $556,000. MGO One Seven LLC lifted its holdings in Equinix by 11.5% during the third quarter. MGO One Seven LLC now owns 4,549 shares of the financial services provider’s stock valued at $4,602,000 after purchasing an additional 469 shares during the last quarter. Soltis Investment Advisors LLC lifted its holdings in Equinix by 6.0% during the third quarter. Soltis Investment Advisors LLC now owns 729 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 41 shares during the last quarter. Finally, Choreo LLC boosted its position in Equinix by 3.6% during the third quarter. Choreo LLC now owns 2,108 shares of the financial services provider’s stock worth $2,132,000 after purchasing an additional 73 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kurt Pletcher sold 135 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total transaction of $145,192.50. Following the completion of the transaction, the insider owned 4,077 shares of the company’s stock, valued at approximately $4,384,813.50. The trade was a 3.21% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher Paisley sold 125 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the completion of the transaction, the director owned 13,734 shares in the company, valued at approximately $15,156,567.72. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 770 shares of company stock worth $807,077. 0.27% of the stock is currently owned by insiders.

Equinix Stock Down 2.0%

Shares of NASDAQ:EQIX opened at $993.69 on Tuesday. The firm has a fifty day moving average price of $1,020.84 and a two-hundred day moving average price of $1,008.86. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The company has a market cap of $98.05 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 1.44 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, topping the consensus estimate of $4.11 by $0.82. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Equinix had a net margin of 16.38% and a return on equity of 11.55%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.83 earnings per share. Analysts anticipate that Equinix, Inc. will post 38.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, November 18th. Equinix’s dividend payout ratio (DPR) is 123.96%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of Equinix from $1,222.00 to $1,270.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce assumed coverage on Equinix in a research report on Tuesday, October 20th. They set an “outperform” rating and a $1,200.00 target price on the stock. Stifel Nicolaus raised their price target on Equinix from $1,250.00 to $1,265.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. The Goldman Sachs Group raised their target price on Equinix from $1,015.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Finally, TD Cowen lifted their target price on Equinix from $1,166.00 to $1,210.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,226.97.

About Equinix

Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.

The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.