V Square Quantitative Management LLC Acquires 169 Shares of Equinix, Inc. (NASDAQ:EQIX)

V Square Quantitative Management LLC boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,184 shares of the financial services provider’s stock after acquiring an additional 169 shares during the quarter. V Square Quantitative Management LLC’s holdings in Equinix were worth $1,939,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. CNB Bank increased its position in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the second quarter valued at approximately $30,000. LRI Investments LLC bought a new position in shares of Equinix in the first quarter worth about $31,000. Meeder Asset Management Inc. purchased a new position in shares of Equinix during the second quarter worth approximately $36,000. Finally, Sugarloaf Wealth Management LLC raised its stake in shares of Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Stock Performance

EQIX stock traded up $0.23 during trading on Friday, hitting $889.08. 32,370 shares of the company traded hands, compared to its average volume of 528,237. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a market cap of $84.38 billion, a PE ratio of 89.15, a P/E/G ratio of 2.13 and a beta of 0.71. The stock’s 50-day simple moving average is $853.82 and its 200 day simple moving average is $796.87. 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 (NASDAQ:EQIX) last announced its quarterly earnings results 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 last year, the company posted $8.04 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Insider Buying and Selling

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. 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 available at this link. In related news, 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 owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,043 shares of company stock worth $8,282,119. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on EQIX shares. JPMorgan Chase & Co. raised their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their price target on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI raised shares of Equinix to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price target on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $914.36.

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.