Citizens Financial Group Inc. RI Makes New $239,000 Investment in Equinix, Inc. (NASDAQ:EQIX)

Citizens Financial Group Inc. RI acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 269 shares of the financial services provider’s stock, valued at approximately $239,000.

Several other large investors have also recently added to or reduced their stakes in the business. Altman Advisors Inc. purchased a new position in shares of Equinix during the 3rd quarter worth about $1,718,000. Grandfield & Dodd LLC purchased a new position in Equinix during the third quarter worth approximately $233,000. First Horizon Advisors Inc. boosted its holdings in shares of Equinix by 76.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 39 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Equinix by 19.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,691 shares of the financial services provider’s stock worth $4,164,000 after buying an additional 774 shares during the last quarter. Finally, NS Partners Ltd raised its position in shares of Equinix by 1.9% in the 3rd quarter. NS Partners Ltd now owns 31,234 shares of the financial services provider’s stock worth $27,724,000 after buying an additional 583 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on EQIX. Truist Financial upped their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. 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. Stifel Nicolaus increased their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets upped their price target on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $952.88.

Insider Buying and Selling

In other Equinix news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This represents a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares in the company, 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 have sold 13,754 shares of company stock worth $11,666,756 over the last ninety days. 0.27% of the stock is owned by insiders.

Equinix Stock Up 1.4 %

Shares of Equinix stock opened at $936.37 on Friday. The business has a 50-day moving average price of $891.74 and a 200 day moving average price of $825.46. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The firm has a market cap of $90.35 billion, a P/E ratio of 84.43, a P/E/G ratio of 2.38 and a beta of 0.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

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.