IQ EQ FUND MANAGEMENT IRELAND Ltd Makes New $1.88 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,116 shares of the financial services provider’s stock, valued at approximately $1,878,000.

A number of other institutional investors have also made changes to their positions in the company. Leisure Capital Management lifted its position in shares of Equinix by 51.6% during the third quarter. Leisure Capital Management now owns 999 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 340 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Equinix by 2.7% during the third quarter. Sumitomo Life Insurance Co. now owns 1,650 shares of the financial services provider’s stock worth $1,465,000 after purchasing an additional 44 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in Equinix by 1.0% in the third quarter. Griffin Asset Management Inc. now owns 1,933 shares of the financial services provider’s stock valued at $1,716,000 after acquiring an additional 20 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC raised its holdings in Equinix by 16.3% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 414 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 58 shares in the last quarter. Finally, Creative Planning raised its holdings in Equinix by 16.7% in the third quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after acquiring an additional 1,111 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX opened at $888.85 on Friday. The firm has a 50-day moving average price of $853.82 and a 200 day moving average price of $796.87. The firm has a market capitalization of $84.36 billion, a PE ratio of 89.15, a P/E/G ratio of 2.13 and a beta of 0.71. 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.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (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 the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.04 EPS. On average, sell-side analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.92%. Equinix’s dividend payout ratio is presently 170.91%.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated 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 directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equinix news, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

EQIX has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company upped their price target on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen upped their price target 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 upped their price target on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Finally, Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $914.36.

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.