iA Global Asset Management Inc. Purchases 1,008 Shares of Equinix, Inc. (NASDAQ:EQIX)

iA Global Asset Management Inc. boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,064 shares of the financial services provider’s stock after purchasing an additional 1,008 shares during the quarter. iA Global Asset Management Inc.’s holdings in Equinix were worth $9,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CNB Bank grew its position in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the period. Valley National Advisers Inc. grew its position in shares of Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares during the period. Criterion Capital Advisors LLC acquired a new position in shares of Equinix during the 4th quarter worth about $32,000. Rise Advisors LLC acquired a new position in shares of Equinix during the 1st quarter worth about $39,000. Finally, Rational Advisors LLC acquired a new position in shares of Equinix during the 1st quarter worth about $53,000. 94.94% of the stock is owned by institutional investors.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

NASDAQ:EQIX traded up $20.94 during trading hours on Thursday, hitting $811.18. The company’s stock had a trading volume of 622,717 shares, compared to its average volume of 569,080. The stock has a fifty day simple moving average of $769.82 and a 200-day simple moving average of $796.47. The company has a market capitalization of $76.99 billion, a P/E ratio of 79.26, a PEG ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EQIX. Barclays boosted their price objective on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Royal Bank of Canada decreased their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. The Goldman Sachs Group began coverage on Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Finally, Mizuho assumed coverage on Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $875.50.

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.