Pathway Financial Advisers LLC Has $354.11 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Pathway Financial Advisers LLC increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 89,348.4% during the third quarter, Holdings Channel.com reports. The firm owned 398,940 shares of the financial services provider’s stock after acquiring an additional 398,494 shares during the quarter. Equinix accounts for 3.5% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 9th largest holding. Pathway Financial Advisers LLC’s holdings in Equinix were worth $354,111,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. CNB Bank raised its stake in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the second quarter worth $30,000. LRI Investments LLC bought a new position in Equinix in the first quarter worth $31,000. GHP Investment Advisors Inc. boosted its holdings in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position 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 buying an additional 13 shares during the period. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of analyst reports. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Mizuho increased their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Wells Fargo & Company lifted their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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. Five research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $927.67.

Insiders Place Their Bets

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,906 shares of company stock worth $9,071,764 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $905.91 on Wednesday. The stock has a 50-day moving average price of $864.73 and a 200 day moving average price of $803.33. The stock has a market capitalization of $85.98 billion, a P/E ratio of 90.86, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $8.04 EPS. Equities research analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.88%. 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.