Fortitude Family Office LLC Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Fortitude Family Office LLC boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 50.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39 shares of the financial services provider’s stock after acquiring an additional 13 shares during the quarter. Fortitude Family Office LLC’s holdings in Equinix were worth $35,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. CNB Bank increased its position in shares of Equinix by 172.7% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Equinix in the second quarter valued at $30,000. LRI Investments LLC purchased a new position in shares of Equinix in the first quarter valued at $31,000. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Equinix in the second quarter valued at $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $910.22 on Thursday. The firm has a market capitalization of $86.39 billion, a P/E ratio of 91.30, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50-day simple moving average is $866.57 and its 200-day simple moving average is $804.08.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates 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 firm posted $8.04 earnings per share. Equities analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now directly owns 8,231 shares in the company, valued at $7,531,365. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,906 shares of company stock valued at $9,071,764. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EQIX. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Barclays lifted their price objective on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research report on Monday. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Evercore ISI lifted their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average price target of $927.67.

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.