Kessler Investment Group LLC Has $6.09 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Kessler Investment Group LLC raised its position in Equinix, Inc. (NASDAQ:EQIX) by 15.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,862 shares of the financial services provider’s stock after purchasing an additional 931 shares during the period. Equinix makes up about 3.1% of Kessler Investment Group LLC’s investment portfolio, making the stock its 15th biggest holding. Kessler Investment Group LLC’s holdings in Equinix were worth $6,091,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CNB Bank increased its stake in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix during the second quarter worth $30,000. LRI Investments LLC acquired a new stake in shares of Equinix during the first quarter worth $31,000. Meeder Asset Management Inc. bought a new stake in Equinix in the 2nd quarter valued at $36,000. Finally, Sugarloaf Wealth Management LLC boosted its stake in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 20 shares during the period. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Equinix news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 over the last three months. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on EQIX. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI upgraded Equinix to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $914.36.

Equinix Stock Performance

Shares of EQIX traded up $1.70 during mid-day trading on Tuesday, reaching $881.64. The company’s stock had a trading volume of 29,562 shares, compared to its average volume of 526,455. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The business has a 50-day simple moving average of $856.57 and a two-hundred day simple moving average of $798.32. The stock has a market cap of $83.67 billion, a P/E ratio of 88.26, a PEG ratio of 2.13 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $8.04 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.93%. Equinix’s dividend payout ratio is currently 170.91%.

Equinix 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.