Tran Capital Management L.P. Has $33.17 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Tran Capital Management L.P. raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 85.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,191 shares of the financial services provider’s stock after acquiring an additional 18,515 shares during the quarter. Equinix comprises approximately 3.7% of Tran Capital Management L.P.’s investment portfolio, making the stock its 15th biggest holding. Tran Capital Management L.P.’s holdings in Equinix were worth $33,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Equinix by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock valued at $8,883,018,000 after purchasing an additional 34,926 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after purchasing an additional 13,988 shares during the last quarter. Norges Bank bought a new position in shares of Equinix in the 4th quarter valued at about $1,574,132,000. Principal Financial Group Inc. boosted its stake in shares of Equinix by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,435,568 shares of the financial services provider’s stock valued at $1,156,193,000 after purchasing an additional 37,150 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Equinix by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 992,401 shares of the financial services provider’s stock valued at $799,270,000 after purchasing an additional 13,274 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EQIX shares. The Goldman Sachs Group started coverage on shares of Equinix in a research note on Monday. They issued a “buy” rating and a $870.00 target price on the stock. Barclays lifted their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a research note on Wednesday, March 20th. Oppenheimer lifted their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Truist Financial lifted their price objective on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $872.33.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The sale was disclosed in a filing with the SEC, which is available through this link. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the transaction, the insider now directly owns 12,758 shares of the company’s stock, valued at $10,212,779. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Down 1.0 %

EQIX traded down $7.38 during trading on Thursday, reaching $749.00. 236,238 shares of the stock were exchanged, compared to its average volume of 470,593. The stock has a market cap of $71.09 billion, a P/E ratio of 75.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock’s 50 day moving average price is $755.68 and its two-hundred day moving average price is $799.11. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.28%. Equinix’s payout ratio is 170.91%.

Equinix Company 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.