Sargent Investment Group LLC Takes $377,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Sargent Investment Group LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 419 shares of the financial services provider’s stock, valued at approximately $377,000.

A number of other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares in the last quarter. Geode Capital Management LLC increased its holdings in Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. increased its holdings in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the period. JPMorgan Chase & Co. increased its holdings in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Equinix by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after purchasing an additional 53,729 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,823 shares of company stock valued at $16,474,442. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $936.50 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a 50 day simple moving average of $941.00 and a 200-day simple moving average of $889.14. The company has a market cap of $90.36 billion, a PE ratio of 84.45, a P/E/G ratio of 2.18 and a beta of 0.72. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EQIX. Scotiabank upped their price target on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. Barclays increased their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Truist Financial increased their price objective on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. BMO Capital Markets increased their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, JMP Securities assumed coverage on Equinix in a report on Monday, January 27th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $996.06.

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.