Grandfield & Dodd LLC Buys New Position in Equinix, Inc. (NASDAQ:EQIX)

Grandfield & Dodd LLC purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the third quarter, Holdings Channel.com reports. The fund purchased 262 shares of the financial services provider’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cypress Capital Group increased its holdings in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares in the last quarter. MRA Advisory Group grew its holdings in shares of Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Finally, Abbrea Capital LLC raised its position in shares of Equinix by 5.5% in the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Down 0.4 %

NASDAQ:EQIX opened at $918.94 on Thursday. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. 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 company’s 50-day simple moving average is $889.31 and its 200 day simple moving average is $822.27. The firm has a market capitalization of $88.67 billion, a P/E ratio of 82.86, a PEG ratio of 2.25 and a beta of 0.71.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.85%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Analyst Ratings Changes

Several equities research analysts have issued reports on EQIX shares. Evercore ISI lifted their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. 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 Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, The Goldman Sachs Group lifted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five equities research 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, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $952.88.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now owns 4,893 shares in the company, valued at $4,518,979.08. The trade was a 17.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. This represents a 44.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,754 shares of company stock valued at $11,666,756. Insiders own 0.27% of the company’s stock.

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.