Cim Investment Management Inc. Acquires 1,181 Shares of Equinix, Inc. (NASDAQ:EQIX)

Cim Investment Management Inc. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 73.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,795 shares of the financial services provider’s stock after acquiring an additional 1,181 shares during the quarter. Equinix makes up about 0.7% of Cim Investment Management Inc.’s portfolio, making the stock its 22nd biggest holding. Cim Investment Management Inc.’s holdings in Equinix were worth $2,115,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Cypress Capital Group raised its holdings in Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares during the period. MRA Advisory Group lifted its holdings in Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Equinix by 3.0% in the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 14 shares during the period. Banco Santander S.A. grew its holdings in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after buying an additional 14 shares in the last quarter. Finally, Abbrea Capital LLC increased its position in Equinix by 5.5% during the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after buying an additional 14 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EQIX shares. The Goldman Sachs Group boosted their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen boosted their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Mizuho raised their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $891.57.

Equinix Stock Performance

NASDAQ:EQIX opened at $882.69 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $83.77 billion, a PE ratio of 88.53, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock’s 50-day simple moving average is $826.88 and its 200 day simple moving average is $792.72.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (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 the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $8.04 earnings per share. On average, 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 issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Insider Buying and Selling

In other Equinix news, EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the transaction, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were 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 accessible through this link. Also, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 in the last 90 days. Insiders own 0.27% of the company’s stock.

About Equinix

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.