Spirit of America Management Corp NY Purchases 330 Shares of Equinix, Inc. (NASDAQ:EQIX)

Spirit of America Management Corp NY boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,610 shares of the financial services provider’s stock after acquiring an additional 330 shares during the period. Equinix accounts for 1.5% of Spirit of America Management Corp NY’s portfolio, making the stock its 17th largest position. Spirit of America Management Corp NY’s holdings in Equinix were worth $7,175,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its stake in 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 during the period. Fortitude Family Office LLC lifted its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Sugarloaf Wealth Management LLC lifted its stake in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares during the period. Dunhill Financial LLC lifted its stake in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares during the period. Finally, Webster Bank N. A. lifted its stake in 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 buying an additional 27 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.0 %

EQIX stock opened at $924.28 on Wednesday. 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 50 day moving average price of $942.07 and a two-hundred day moving average price of $888.17. The company has a market cap of $89.18 billion, a price-to-earnings ratio of 83.34, a P/E/G ratio of 2.18 and a beta of 0.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares in the company, valued at $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kurt Pletcher sold 222 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares of the company’s stock, valued at approximately $976,633. This represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,823 shares of company stock worth $16,474,442 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on EQIX. TD Cowen increased 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. Royal Bank of Canada raised their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Evercore ISI raised their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $996.06.

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.