Advisors Asset Management Inc. raised its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 19.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,691 shares of the financial services provider's stock after buying an additional 774 shares during the period. Advisors Asset Management Inc.'s holdings in Equinix were worth $4,164,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in shares of 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 valued at $354,111,000 after buying an additional 398,494 shares in the last quarter. Swedbank AB bought a new stake in Equinix during the 1st quarter worth about $294,526,000. Principal Financial Group Inc. increased its position in Equinix by 14.5% in the 2nd 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 acquiring an additional 238,883 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Equinix by 104.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider's stock worth $238,133,000 after acquiring an additional 160,906 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Equinix by 21.5% during the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider's stock worth $682,826,000 after purchasing an additional 159,576 shares in the last quarter. 94.94% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Barclays boosted their target price on Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th. Scotiabank raised their price target on Equinix from $954.00 to $985.00 and gave the company a "sector outperform" rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Equinix presently has an average rating of "Moderate Buy" and an average target price of $952.88.
Check Out Our Latest Stock Report on EQIX
In other news, insider Brandi Galvin Morandi sold 864 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company's stock, valued at $7,729,900. This represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares of the company's stock, valued at approximately $5,862,689.59. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock valued at $11,666,756 over the last quarter. Corporate insiders own 0.27% of the company's stock.
NASDAQ:EQIX opened at $936.37 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The business's 50-day simple moving average is $891.74 and its 200-day simple moving average is $824.67. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The stock has a market capitalization of $90.35 billion, a PE ratio of 84.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.71.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, November 13th. Equinix's dividend payout ratio (DPR) is presently 153.65%.
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.
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