JPMorgan Chase & Co. Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

JPMorgan Chase & Co. boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 17.9% in the third quarter, Holdings Channel reports. The fund owned 1,338,597 shares of the financial services provider’s stock after purchasing an additional 203,656 shares during the quarter. JPMorgan Chase & Co.’s holdings in Equinix were worth $1,188,180,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. lifted its stake in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC raised its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Meeder Asset Management Inc. bought a new position in Equinix in the second quarter worth approximately $36,000. Sugarloaf Wealth Management LLC boosted its stake in shares of Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares during the last quarter. Finally, Dunhill Financial LLC grew its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the sale, the insider now directly owns 6,505 shares of the company’s stock, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,398 shares of company stock worth $7,906,218 over the last 90 days. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

NASDAQ:EQIX opened at $948.39 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $91.51 billion, a price-to-earnings ratio of 85.52, a PEG ratio of 2.51 and a beta of 0.72. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock’s 50 day simple moving average is $932.06 and its two-hundred day simple moving average is $856.96.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EQIX shares. JPMorgan Chase & Co. lifted their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. 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. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. BMO Capital Markets lifted their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Mizuho upped 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. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $976.81.

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.