Summit Trail Advisors LLC Raises Position in Equinix, Inc. (NASDAQ:EQIX)

Summit Trail Advisors LLC raised its position in Equinix, Inc. (NASDAQ:EQIX) by 34.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 809 shares of the financial services provider’s stock after buying an additional 207 shares during the period. Summit Trail Advisors LLC’s holdings in Equinix were worth $718,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after purchasing an additional 19,844 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after purchasing an additional 53,729 shares during the period. Clearbridge Investments LLC grew its position in Equinix by 21.5% in the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock valued at $682,826,000 after buying an additional 159,576 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Equinix by 7.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider’s stock valued at $665,807,000 after buying an additional 59,343 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 4.1 %

Shares of EQIX stock opened at $974.35 on Tuesday. The firm’s fifty day moving average price is $893.70 and its two-hundred day moving average price is $827.82. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $976.35. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $94.01 billion, a P/E ratio of 87.86, a PEG ratio of 2.41 and a beta of 0.71.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Transactions at Equinix

In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 in the last ninety days. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets boosted 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. Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen upped their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average target price of $952.88.

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.