Prime Capital Investment Advisors LLC Acquires 575 Shares of Equinix, Inc. (NASDAQ:EQIX)

Prime Capital Investment Advisors LLC increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 63.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,487 shares of the financial services provider’s stock after buying an additional 575 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Equinix were worth $1,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EQIX. Pathway Financial Advisers LLC grew its holdings in Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after purchasing an additional 398,494 shares during the last quarter. Swedbank AB acquired a new stake in shares of Equinix in the 1st quarter worth $294,526,000. Principal Financial Group Inc. grew its stake in Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after buying an additional 238,883 shares during the last quarter. Vanguard Group Inc. increased its position in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Finally, M&G Plc purchased a new stake in Equinix in the first quarter valued at about $187,089,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EQIX. Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Wells Fargo & Company raised their price target on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Mizuho boosted their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their target price for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Finally, Evercore ISI boosted their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Insider Activity at Equinix

In other 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 transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 9.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This represents a 44.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,654 shares of company stock valued at $11,577,656. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

Equinix stock opened at $898.12 on Friday. The company has a fifty day simple moving average of $882.45 and a 200-day simple moving average of $815.17. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $86.66 billion, a price-to-earnings ratio of 80.98, a PEG ratio of 2.27 and a beta of 0.71. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

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.