Equinix, Inc. (NASDAQ:EQIX) Stock Holdings Raised by Eastern Bank

Eastern Bank raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,143 shares of the financial services provider’s stock after acquiring an additional 765 shares during the period. Eastern Bank’s holdings in Equinix were worth $15,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CNB Bank grew its position in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the 2nd quarter worth about $30,000. LRI Investments LLC bought a new position in Equinix in the 1st quarter worth about $31,000. Meeder Asset Management Inc. bought a new position in Equinix in the 2nd quarter worth about $36,000. Finally, Sugarloaf Wealth Management LLC grew its position in Equinix by 100.0% in the 3rd 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.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Truist Financial increased their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $914.36.

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction 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 sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

Equinix Stock Down 0.1 %

Shares of EQIX traded down $1.17 during mid-day trading on Tuesday, hitting $878.77. 89,596 shares of the company’s stock were exchanged, compared to its average volume of 526,749. The firm has a fifty day moving average of $856.57 and a two-hundred day moving average of $798.32. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock has a market cap of $83.40 billion, a price-to-earnings ratio of 88.43, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last announced its quarterly 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 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $8.04 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

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.