Renaissance Technologies LLC Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Renaissance Technologies LLC raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 81.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,870 shares of the financial services provider’s stock after purchasing an additional 13,900 shares during the period. Renaissance Technologies LLC’s holdings in Equinix were worth $23,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CNB Bank boosted its position in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix during the 2nd quarter valued at about $30,000. LRI Investments LLC bought a new stake in shares of Equinix in the first quarter worth approximately $31,000. Meeder Asset Management Inc. purchased a new position in shares of Equinix during the second quarter valued at approximately $36,000. Finally, Rise Advisors LLC bought a new position in Equinix during the first quarter valued at approximately $39,000. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Up 0.7 %

Shares of Equinix stock opened at $877.20 on Friday. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. 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 capitalization of $83.25 billion, a P/E ratio of 87.98, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a fifty day moving average of $820.42 and a 200 day moving average of $793.28.

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 business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $8.04 EPS. On average, sell-side analysts anticipate 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 was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s payout ratio is currently 170.91%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EQIX. Barclays boosted their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Mizuho increased their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Truist Financial boosted their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

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.