Beacon Investment Advisory Services Inc. Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

Beacon Investment Advisory Services Inc. boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,947 shares of the financial services provider’s stock after purchasing an additional 205 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Equinix were worth $5,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC grew its stake in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Sugarloaf Wealth Management LLC increased its holdings in Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Dunhill Financial LLC raised its position in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Webster Bank N. A. lifted its holdings in shares of Equinix by 112.5% in the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 27 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EQIX. Wells Fargo & Company raised their price objective on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Truist Financial boosted their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. The Goldman Sachs Group increased their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Evercore ISI upped their target price on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $976.81.

Insider Transactions at Equinix

In other news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. The trade was a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,412 shares of company stock worth $18,826,100. 0.27% of the stock is currently owned by company insiders.

Equinix Trading Down 0.9 %

EQIX stock opened at $925.23 on Thursday. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a market cap of $89.28 billion, a price-to-earnings ratio of 83.43, a PEG ratio of 2.22 and a beta of 0.73. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The business has a fifty day simple moving average of $942.79 and a 200-day simple moving average of $880.36.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

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.