Savant Capital LLC Buys 63 Shares of Equinix, Inc. (NASDAQ:EQIX)

Savant Capital LLC increased its position in Equinix, Inc. (NASDAQ:EQIX) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 926 shares of the financial services provider’s stock after purchasing an additional 63 shares during the quarter. Savant Capital LLC’s holdings in Equinix were worth $701,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC increased its stake in shares of Equinix by 18.9% during the fourth quarter. Private Advisor Group LLC now owns 882 shares of the financial services provider’s stock valued at $711,000 after buying an additional 140 shares during the period. Gryphon Financial Partners LLC purchased a new position in Equinix during the 4th quarter valued at about $581,000. Principal Securities Inc. bought a new stake in shares of Equinix in the 4th quarter valued at about $344,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Equinix by 442.6% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 510 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 416 shares during the period. Finally, Quotient Wealth Partners LLC bought a new position in shares of Equinix during the fourth quarter valued at approximately $205,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Up 0.3 %

Equinix stock opened at $867.70 on Thursday. The business’s 50-day simple moving average is $806.73 and its two-hundred day simple moving average is $793.62. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $82.35 billion, a PE ratio of 87.03, a PEG ratio of 1.99 and a beta of 0.71. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $8.04 EPS. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. Equinix’s payout ratio is currently 170.91%.

Insider Buying and Selling

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 over the last 90 days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on EQIX shares. The Goldman Sachs Group started coverage on Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 target price for the company. Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. 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. Barclays increased their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada cut their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus target price of $876.71.

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.