Edgewood Management LLC Acquires 5,409 Shares of Equinix, Inc. (NASDAQ:EQIX)

Edgewood Management LLC raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 18.6% in the 3rd quarter, Holdings Channel reports. The firm owned 34,467 shares of the financial services provider’s stock after purchasing an additional 5,409 shares during the quarter. Equinix accounts for 0.1% of Edgewood Management LLC’s holdings, making the stock its 26th biggest holding. Edgewood Management LLC’s holdings in Equinix were worth $30,594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BDF Gestion bought a new stake in shares of Equinix during the second quarter worth $2,659,000. Van ECK Associates Corp raised its holdings in shares of Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after acquiring an additional 1,716 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Equinix by 159.4% in the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock valued at $1,854,000 after acquiring an additional 1,380 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings 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 valued at $33,215,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in Equinix by 25.9% in the second 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 last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. 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. 0.27% of the stock is owned by company insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $925.72 on Friday. The business’s 50 day moving average price is $890.45 and its 200 day moving average price is $822.99. The firm has a market cap of $89.32 billion, a P/E ratio of 83.47, a P/E/G ratio of 2.32 and a beta of 0.71. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is presently 153.65%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EQIX shares. Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. TD Cowen lifted their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

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.