Ritholtz Wealth Management Acquires 142 Shares of Equinix, Inc. (NASDAQ:EQIX)

Ritholtz Wealth Management lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 659 shares of the financial services provider’s stock after purchasing an additional 142 shares during the quarter. Ritholtz Wealth Management’s holdings in Equinix were worth $585,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. First Affirmative Financial Network increased its stake in Equinix by 8.1% in the 3rd quarter. First Affirmative Financial Network now owns 877 shares of the financial services provider’s stock valued at $779,000 after buying an additional 66 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Equinix by 0.9% in the third quarter. Valeo Financial Advisors LLC now owns 2,741 shares of the financial services provider’s stock valued at $2,433,000 after acquiring an additional 25 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Equinix by 310.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 616 shares of the financial services provider’s stock worth $547,000 after acquiring an additional 466 shares in the last quarter. Strong Tower Advisory Services raised its holdings in Equinix by 7.2% during the third quarter. Strong Tower Advisory Services now owns 656 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 44 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its position in Equinix by 69.7% during the third quarter. Independence Bank of Kentucky now owns 745 shares of the financial services provider’s stock valued at $661,000 after purchasing an additional 306 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Wells Fargo & Company raised shares of 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 research report on Tuesday, July 23rd. The Goldman Sachs Group boosted their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $907.21.

Equinix Stock Performance

NASDAQ:EQIX opened at $878.03 on Wednesday. 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 50 day simple moving average of $850.24 and a 200 day simple moving average of $795.64. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The stock has a market cap of $83.33 billion, a P/E ratio of 88.07, a PEG ratio of 2.13 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued 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). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm earned $8.04 EPS. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix 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 completion of the transaction, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 in the last 90 days. Company insiders own 0.27% of the company’s stock.

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.