Oak Ridge Investments LLC Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

Oak Ridge Investments LLC raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,066 shares of the financial services provider’s stock after buying an additional 535 shares during the period. Oak Ridge Investments LLC’s holdings in Equinix were worth $6,272,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EQIX. CNB Bank grew its position in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Equinix during the 2nd quarter valued at about $30,000. LRI Investments LLC purchased a new position in shares of Equinix during the 1st quarter worth about $31,000. GHP Investment Advisors Inc. increased its position in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock opened at $908.08 on Friday. The stock has a market cap of $86.21 billion, a PE ratio of 81.88, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The stock has a 50-day moving average price of $868.35 and a two-hundred day moving average price of $804.80. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.55% and a net margin of 12.29%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business earned $8.04 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.88%. Equinix’s dividend payout ratio is currently 153.65%.

Insider Activity at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares of the company’s stock, valued at $7,531,365. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,906 shares of company stock valued at $9,071,764. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group upped their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Evercore ISI raised their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Barclays increased their price target on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research note on Monday. 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 company’s stock. Based on data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $944.63.

About Equinix

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.