Thrivent Financial for Lutherans Acquires 113,994 Shares of Equinix, Inc. (NASDAQ:EQIX)

Thrivent Financial for Lutherans raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 456.5% in the second quarter, Holdings Channel reports. The institutional investor owned 138,966 shares of the financial services provider’s stock after buying an additional 113,994 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Equinix were worth $105,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EQIX. Gryphon Financial Partners LLC acquired a new stake in Equinix during the fourth quarter worth about $581,000. Brown Advisory Inc. acquired a new stake in shares of Equinix during the 4th quarter worth approximately $288,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Equinix during the fourth quarter valued at approximately $481,000. Corient Private Wealth LLC raised its stake in shares of Equinix by 4.1% in the fourth quarter. Corient Private Wealth LLC now owns 5,925 shares of the financial services provider’s stock valued at $4,772,000 after purchasing an additional 231 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new position in Equinix in the fourth quarter worth $210,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares in the company, valued at $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 in the last three months. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EQIX shares. The Goldman Sachs Group initiated coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada decreased their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Six research 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.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Stock Up 0.7 %

Shares of EQIX opened at $877.20 on Friday. The firm has a market capitalization of $83.25 billion, a price-to-earnings ratio of 87.98, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 52 week low of $677.80 and a 52 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 business’s fifty day moving average price is $820.42 and its two-hundred day moving average price is $792.56.

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 the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for 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 for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.04 earnings per share. On average, analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Equinix 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.