Liberty Mutual Group Asset Management Inc. Has $11.07 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Liberty Mutual Group Asset Management Inc. lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 45.3% during the 2nd quarter, Holdings Channel reports. The firm owned 14,634 shares of the financial services provider’s stock after purchasing an additional 4,560 shares during the quarter. Equinix comprises 1.6% of Liberty Mutual Group Asset Management Inc.’s portfolio, making the stock its 7th biggest holding. Liberty Mutual Group Asset Management Inc.’s holdings in Equinix were worth $11,072,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. CNB Bank increased its position in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Equinix during the 2nd quarter worth approximately $30,000. LRI Investments LLC bought a new stake in Equinix in the 1st quarter valued at $31,000. Meeder Asset Management Inc. acquired a new position in shares of Equinix in the second quarter valued at $36,000. Finally, Rise Advisors LLC acquired a new position in shares of Equinix in the first quarter valued at $39,000. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the 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 completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. 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 90 days. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen lifted their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group upped their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday. Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday. Barclays upped their price objective on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $891.57.

Equinix Stock Down 1.2 %

EQIX stock opened at $878.98 on Friday. The firm has a 50-day moving average price of $825.20 and a 200-day moving average price of $792.12. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. 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 $83.42 billion, a P/E ratio of 88.16, a price-to-earnings-growth ratio of 2.15 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 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $8.04 EPS. As a group, equities research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed 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. 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 is currently 170.91%.

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.