Oppenheimer & Co. Inc. Invests $3.74 Million in Equinix, Inc. (NASDAQ:EQIX)

Oppenheimer & Co. Inc. acquired a new position in Equinix, Inc. (NASDAQ:EQIX) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 4,947 shares of the financial services provider’s stock, valued at approximately $3,743,000.

Several other institutional investors have also recently modified their holdings of EQIX. Swedbank AB purchased a new position in Equinix during the first quarter valued at approximately $294,526,000. Principal Financial Group Inc. raised its position in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. Vanguard Group Inc. raised its position in Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares in the last quarter. M&G Plc purchased a new position in Equinix during the first quarter valued at approximately $187,089,000. Finally, Quadrature Capital Ltd purchased a new position in Equinix during the first quarter valued at approximately $145,308,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Equinix news, insider Michael Earl Campbell sold 600 shares of Equinix stock in a transaction on Friday, September 6th. The stock was sold at an average price of $816.73, for a total value of $490,038.00. Following the sale, the insider now owns 14,800 shares in the company, valued at $12,087,604. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,043 shares of company stock valued at $8,282,119. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $871.54 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50 day moving average price is $811.47 and its 200-day moving average price is $792.85. The firm has a market capitalization of $82.74 billion, a PE ratio of 87.42, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93.

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

Equinix Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Royal Bank of Canada cut their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. TD Cowen boosted their price objective on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Barclays boosted their price objective on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $883.71.

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.