PDS Planning Inc Increases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

PDS Planning Inc raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 555 shares of the financial services provider’s stock after purchasing an additional 27 shares during the quarter. PDS Planning Inc’s holdings in Equinix were worth $493,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC lifted its holdings in Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after buying an additional 398,494 shares during the period. Swedbank AB purchased a new position in shares of Equinix in the 1st quarter valued at approximately $294,526,000. Principal Financial Group Inc. boosted its position in shares of Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Vanguard Group Inc. raised its holdings in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. Finally, M&G Plc purchased a new position in Equinix during the first quarter valued at $187,089,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of EQIX opened at $895.92 on Tuesday. The firm has a market capitalization of $86.45 billion, a P/E ratio of 80.79, a PEG ratio of 2.18 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.22. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. The business has a fifty day moving average of $871.10 and a 200 day moving average of $807.85.

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

Equinix Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EQIX shares. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Wells Fargo & Company upped their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Barclays raised their price target on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Insider Buying and Selling

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Brandi Galvin Morandi sold 863 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This 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 have sold 12,632 shares of company stock valued at $10,633,777. 0.27% of the stock is owned by company insiders.

Equinix Company Profile

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.