Ensign Peak Advisors Inc Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

Ensign Peak Advisors Inc boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.2% during the 2nd quarter, Holdings Channel reports. The firm owned 60,738 shares of the financial services provider’s stock after buying an additional 6,614 shares during the period. Ensign Peak Advisors Inc’s holdings in Equinix were worth $45,954,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in EQIX. CNB Bank lifted its holdings in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the 2nd quarter valued at $30,000. LRI Investments LLC purchased a new stake in Equinix in the 1st quarter worth $31,000. Meeder Asset Management Inc. bought a new position in shares of Equinix during the 2nd quarter valued at about $36,000. Finally, Rise Advisors LLC purchased a new position in shares of Equinix during the first quarter valued at about $39,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQIX has been the subject of a number of research reports. TD Cowen increased their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Truist Financial increased their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Barclays upped their price target 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. Finally, The Goldman Sachs Group began coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $883.71.

Equinix Price Performance

EQIX opened at $877.20 on Friday. The business has a fifty day moving average of $820.42 and a 200 day moving average of $792.56. The stock has a market cap of $83.25 billion, a P/E ratio of 87.98, a PEG ratio of 2.11 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93.

Equinix (NASDAQ:EQIX) last announced 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 the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.04 EPS. As a group, sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.94%. Equinix’s payout ratio is currently 170.91%.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. 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 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.