Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 21.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 902,493 shares of the financial services provider’s stock after acquiring an additional 159,576 shares during the period. Clearbridge Investments LLC owned about 0.95% of Equinix worth $682,826,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQIX. Cypress Capital Group grew its position in Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares in the last quarter. MRA Advisory Group lifted its stake in Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 13 shares in the last quarter. Banco Santander S.A. lifted its stake in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 14 shares in the last quarter. Abbrea Capital LLC boosted its position in Equinix by 5.5% during the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 14 shares during the period. Finally, UMB Bank n.a. grew its stake in Equinix by 30.0% during the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 15 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated 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 owns 9,094 shares of the company’s stock, valued at $7,729,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Equinix 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 sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The shares were 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. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Mizuho increased their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. TD Cowen lifted their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Truist Financial boosted their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $891.57.

Equinix Price Performance

Shares of Equinix stock opened at $887.63 on Tuesday. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The firm has a fifty day simple moving average of $830.58 and a 200-day simple moving average of $791.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $84.24 billion, a price-to-earnings ratio of 89.03, a PEG ratio of 2.15 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’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 business posted $8.04 earnings per share. On average, sell-side analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.92%. The ex-dividend date was Wednesday, August 21st. Equinix’s payout ratio is currently 170.91%.

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.