Needham Investment Management LLC Has $6.92 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Needham Investment Management LLC lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 24.8% in the third quarter, HoldingsChannel.com reports. The firm owned 7,800 shares of the financial services provider’s stock after acquiring an additional 1,550 shares during the period. Needham Investment Management LLC’s holdings in Equinix were worth $6,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of 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 valued at $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 worth $1,009,293,000 after acquiring an additional 19,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Equinix by 5.0% during 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 acquiring an additional 53,729 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after acquiring an additional 813,666 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Equinix by 21.5% during the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after acquiring an additional 159,576 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EQIX shares. Evercore ISI increased their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial increased their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday. Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Barclays increased their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Finally, BMO Capital Markets increased their target price on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Five investment 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, Equinix has an average rating of “Moderate Buy” and a consensus price target of $962.56.

Equinix Trading Down 1.7 %

Equinix stock traded down $16.64 during mid-day trading on Tuesday, hitting $964.84. The stock had a trading volume of 536,101 shares, compared to its average volume of 540,639. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The stock has a market capitalization of $93.10 billion, a PE ratio of 87.00, a P/E/G ratio of 2.53 and a beta of 0.72. The stock has a 50-day simple moving average of $902.59 and a two-hundred day simple moving average of $833.34.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the sale, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This represents a 99.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,754 shares of company stock worth $11,666,756. Insiders own 0.27% of the company’s stock.

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.