HighTower Advisors LLC Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

HighTower Advisors LLC boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 22,237 shares of the financial services provider’s stock after purchasing an additional 244 shares during the period. HighTower Advisors LLC’s holdings in Equinix were worth $18,131,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock worth $725,957,000 after acquiring an additional 889,282 shares during the period. Nuveen LLC acquired a new stake in shares of Equinix in the 1st quarter worth $662,663,000. Northern Trust Corp lifted its stake in shares of Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Equinix by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider’s stock worth $1,296,871,000 after acquiring an additional 291,753 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Equinix by 169.7% in the 1st quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider’s stock worth $321,427,000 after acquiring an additional 248,075 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial set a $961.00 target price on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, August 7th. Wolfe Research cut shares of Equinix from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Tuesday, July 22nd. Dbs Bank upgraded shares of Equinix to a “moderate buy” rating in a research note on Wednesday, August 6th. Finally, TD Securities raised their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $962.24.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $781.31 on Friday. The company has a market cap of $76.46 billion, a PE ratio of 76.52, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The company has a 50-day simple moving average of $808.63 and a 200-day simple moving average of $844.01.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $6.42. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.22 earnings per share. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix’s dividend payout ratio (DPR) is 183.74%.

Insider Buying and Selling at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, the chief executive officer directly owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by company insiders.

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.