State Street Corp grew its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,826,082 shares of the financial services provider's stock after buying an additional 81,941 shares during the quarter. State Street Corp owned 6.04% of Equinix worth $5,171,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% in the 3rd 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 period. Fortitude Family Office LLC raised its holdings in Equinix by 50.0% in the 3rd 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. Meeder Asset Management Inc. bought a new position in Equinix in the 2nd quarter worth $36,000. Sugarloaf Wealth Management LLC raised its holdings in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider's stock worth $36,000 after purchasing an additional 20 shares during the period. Finally, Webster Bank N. A. raised its holdings in Equinix by 112.5% in the 3rd quarter. Webster Bank N. A. now owns 51 shares of the financial services provider's stock worth $45,000 after purchasing an additional 27 shares during the period. 94.94% of the stock is owned by institutional investors.
A number of brokerages have issued reports on EQIX. Scotiabank increased their price target on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research note on Thursday, October 31st. Barclays increased their price target on Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. Hsbc Global Res upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 4th. Mizuho increased their price target on shares of Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a report on Thursday, September 12th. Finally, Truist Financial increased their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $962.56.
Check Out Our Latest Stock Analysis on EQIX
NASDAQ EQIX opened at $965.64 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock's fifty day moving average price is $907.28 and its 200 day moving average price is $836.57. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a market cap of $93.17 billion, a price-to-earnings ratio of 87.07, a PEG ratio of 2.48 and a beta of 0.72.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, November 13th. Equinix's payout ratio is 153.65%.
In other news, insider Michael Earl Campbell sold 600 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $816.73, for a total transaction of $490,038.00. Following the sale, the insider now directly owns 14,800 shares of the company's stock, valued at $12,087,604. This represents a 3.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction 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. The trade was a 99.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,969 shares of company stock valued at $10,033,525. 0.27% of the stock is owned by insiders.
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.
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