Quest Partners LLC Increases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Quest Partners LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 173.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,544 shares of the financial services provider’s stock after acquiring an additional 1,612 shares during the period. Quest Partners LLC’s holdings in Equinix were worth $2,258,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix during the 2nd quarter valued at about $30,000. LRI Investments LLC bought a new position in Equinix in the first quarter worth about $31,000. GHP Investment Advisors Inc. lifted its holdings in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC grew its holdings in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Equinix in the 2nd quarter valued at approximately $36,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix 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 value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at $4,518,979.08. The trade was a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,754 shares of company stock valued at $11,666,756. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $909.48 on Tuesday. The firm’s 50-day moving average price is $887.12 and its 200-day moving average price is $820.02. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The company has a market cap of $87.76 billion, a PE ratio of 82.01, a PEG ratio of 2.25 and a beta of 0.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EQIX. Barclays upped 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. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and lifted their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Mizuho upped their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group upped their price target on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $945.38.

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.