Profund Advisors LLC Has $1.15 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Profund Advisors LLC raised its position in Equinix, Inc. (NASDAQ:EQIX) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 1,513 shares of the financial services provider’s stock after buying an additional 55 shares during the quarter. Profund Advisors LLC’s holdings in Equinix were worth $1,145,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Legacy Financial Advisors Inc. boosted its stake in Equinix by 7.6% in the second quarter. Legacy Financial Advisors Inc. now owns 341 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 24 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Equinix by 12.2% in the second quarter. Ensign Peak Advisors Inc now owns 60,738 shares of the financial services provider’s stock worth $45,954,000 after acquiring an additional 6,614 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Equinix by 456.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 138,966 shares of the financial services provider’s stock worth $105,142,000 after purchasing an additional 113,994 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Equinix by 3.0% during the second quarter. Pacer Advisors Inc. now owns 90,434 shares of the financial services provider’s stock worth $68,422,000 after acquiring an additional 2,635 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Equinix by 4.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 19,311 shares of the financial services provider’s stock valued at $14,608,000 after purchasing an additional 740 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.5 %

Shares of NASDAQ EQIX opened at $881.92 on Tuesday. The business has a 50-day simple moving average of $821.97 and a two-hundred day simple moving average of $791.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a market cap of $83.70 billion, a P/E ratio of 88.46, a P/E/G ratio of 2.11 and a beta of 0.71.

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 analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $8.04 EPS. Research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued 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 dividend yield of 1.93%. Equinix’s dividend payout ratio is 170.91%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada cut their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft boosted their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Buying and Selling

In other Equinix news, 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 transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The stock was 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. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 in the last quarter. 0.27% of the stock is owned by insiders.

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.