Harrell Investment Partners LLC Invests $1.64 Million in Equinix, Inc. $EQIX

Harrell Investment Partners LLC bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,576 shares of the financial services provider’s stock, valued at approximately $1,643,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Elevation Wealth Partners LLC raised its stake in Equinix by 166.7% during the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 15 shares in the last quarter. Avion Wealth grew its stake in shares of Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after buying an additional 11 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in shares of Equinix by 266.7% in the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after buying an additional 24 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Equinix in the 4th quarter worth about $30,000. Finally, Bogart Wealth LLC increased its holdings in shares of Equinix by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 40 shares of the financial services provider’s stock worth $39,000 after buying an additional 28 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the sale, the director owned 13,859 shares in the company, valued at $14,126,201.52. This trade represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the sale, the executive vice president owned 5,728 shares of the company’s stock, valued at approximately $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,891 shares of company stock worth $10,430,452 in the last quarter. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on EQIX. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Guggenheim restated a “buy” rating and set a $1,235.00 price objective on shares of Equinix in a research report on Wednesday, May 20th. Evercore reaffirmed an “outperform” rating and issued a $1,240.00 price objective on shares of Equinix in a research note on Tuesday, April 28th. Cantor Fitzgerald raised their price objective on Equinix from $1,186.00 to $1,211.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Citigroup reissued a “market outperform” rating on shares of Equinix in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,196.20.

Equinix Stock Up 0.1%

Shares of NASDAQ:EQIX opened at $1,043.38 on Tuesday. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The business has a 50 day simple moving average of $1,050.53 and a two-hundred day simple moving average of $1,006.96. The firm has a market capitalization of $102.95 billion, a PE ratio of 67.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Equinix’s dividend payout ratio (DPR) is currently 132.90%.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.