Parcion Private Wealth LLC Purchases 559 Shares of Equinix, Inc. (NASDAQ:EQIX)

Parcion Private Wealth LLC raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 9.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,321 shares of the financial services provider’s stock after purchasing an additional 559 shares during the period. Parcion Private Wealth LLC’s holdings in Equinix were worth $5,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Wealth Asset Management LLC boosted its stake in shares of Equinix by 1.2% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 2,143 shares of the financial services provider’s stock valued at $1,902,000 after purchasing an additional 25 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in Equinix by 4.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 744 shares of the financial services provider’s stock worth $660,000 after buying an additional 29 shares in the last quarter. Ballentine Partners LLC lifted its position in Equinix by 5.3% during the 3rd quarter. Ballentine Partners LLC now owns 1,092 shares of the financial services provider’s stock valued at $969,000 after purchasing an additional 55 shares during the period. E. Ohman J or Asset Management AB increased its stake in Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares in the last quarter. Finally, West Michigan Advisors LLC increased its stake in Equinix by 4.9% during the 3rd quarter. West Michigan Advisors LLC now owns 450 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Up 2.1 %

Shares of EQIX stock opened at $914.33 on Friday. The company has a market cap of $86.78 billion, a P/E ratio of 91.71, a PEG ratio of 2.13 and a beta of 0.71. The stock has a 50 day simple moving average of $859.85 and a two-hundred day simple moving average of $800.30. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 8.46% and a net margin of 12.24%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.04 earnings per share. Research analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. Equinix’s dividend payout ratio is 170.91%.

Insider Activity

In other news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was 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 owns 7,680 shares in the company, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Wells Fargo & Company raised 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. Truist Financial lifted their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. TD Cowen lifted their target price on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $918.40.

Equinix 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.