Segment Wealth Management LLC Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Segment Wealth Management LLC raised its position in Equinix, Inc. (NASDAQ:EQIX) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,320 shares of the financial services provider’s stock after purchasing an additional 20 shares during the period. Segment Wealth Management LLC’s holdings in Equinix were worth $1,172,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CNB Bank lifted its holdings in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the 2nd quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in Equinix during the 1st quarter valued at $31,000. Meeder Asset Management Inc. purchased a new position in Equinix during the second quarter worth $36,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in shares of Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equinix 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 value of $5,136,628.98. Following the completion of the sale, the chairman now directly 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 can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,043 shares of company stock worth $8,282,119. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EQIX shares. The Goldman Sachs Group raised 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. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial upped their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, TD Cowen lifted their price objective on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $914.36.

Equinix Stock Down 0.2 %

NASDAQ:EQIX opened at $878.37 on Wednesday. The stock has a 50-day simple moving average of $857.54 and a 200 day simple moving average of $798.99. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a market capitalization of $83.36 billion, a price-to-earnings ratio of 88.10, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm posted $8.04 earnings per share. Equinix’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.94%. Equinix’s dividend payout ratio (DPR) is 170.91%.

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.