Altman Advisors Inc. Buys New Shares in Equinix, Inc. (NASDAQ:EQIX)

Altman Advisors Inc. purchased a new stake in Equinix, Inc. (NASDAQ:EQIX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,935 shares of the financial services provider’s stock, valued at approximately $1,718,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cypress Capital Group increased its stake in Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 13 shares during the last quarter. MRA Advisory Group increased its position in Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% in the third 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 during the period. Fortitude Family Office LLC lifted its position in 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 buying an additional 13 shares in the last quarter. Finally, Abbrea Capital LLC increased its position in shares of Equinix by 5.5% in the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 14 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $920.01 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $88.77 billion, a price-to-earnings ratio of 83.23, a PEG ratio of 2.25 and a beta of 0.71. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02. The stock has a 50 day moving average of $888.28 and a 200-day moving average of $821.59.

Equinix Dividend Announcement

The firm also recently declared 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 of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.85%. Equinix’s payout ratio is currently 153.65%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cfra reaffirmed a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Scotiabank upped their target price on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their target price for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. The Goldman Sachs Group lifted their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Mizuho upped their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $945.38.

Insiders Place Their Bets

In other news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The trade was a 99.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock valued at $11,666,756 over the last quarter. Insiders own 0.27% of the company’s stock.

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.