Grove Bank & Trust Has $165,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Grove Bank & Trust grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186 shares of the financial services provider’s stock after purchasing an additional 14 shares during the quarter. Grove Bank & Trust’s holdings in Equinix were worth $165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB acquired a new stake in Equinix in the first quarter valued at $294,526,000. Principal Financial Group Inc. grew its position in shares of Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after buying an additional 238,883 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Equinix by 1.9% in the first 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 during the period. M&G Plc bought a new position in shares of Equinix during the first quarter worth about $187,089,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Equinix in the first quarter worth approximately $145,308,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Down 0.6 %

Shares of NASDAQ EQIX opened at $866.02 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The stock has a market capitalization of $82.19 billion, a P/E ratio of 86.86, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a 50-day moving average price of $848.37 and a 200-day moving average price of $795.27.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm earned $8.04 earnings per share. Equinix’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.97%. Equinix’s payout ratio is presently 170.91%.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and lifted their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $907.21.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 over the last three months. Corporate 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.