Ashford Capital Management Inc. raised its position in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 223.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,394 shares of the financial services provider’s stock after purchasing an additional 16,847 shares during the quarter. Equinix accounts for about 2.7% of Ashford Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Ashford Capital Management Inc.’s holdings in Equinix were worth $21,653,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp lifted its stake in shares of Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after buying an additional 1,716 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after acquiring an additional 1,103 shares during the period. Brookfield Corp ON grew its position in shares of Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after purchasing an additional 75,888 shares during the period. Finally, Thematics Asset Management lifted its holdings in Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
EQIX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Mizuho boosted their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Evercore ISI raised their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, TD Cowen raised their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $962.56.
Equinix Price Performance
Equinix stock opened at $968.98 on Tuesday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. 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 firm has a 50-day moving average price of $912.85 and a 200-day moving average price of $840.99. The firm has a market capitalization of $93.50 billion, a PE ratio of 87.37, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72.
Equinix Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 annualized dividend and a dividend yield of 1.76%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.
Insider Activity
In related news, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares of the company’s stock, valued at $976,633. This trade represents a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the transaction, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is currently owned by insiders.
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.
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