Townsquare Capital LLC Has $1.73 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Townsquare Capital LLC lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 47.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,943 shares of the financial services provider’s stock after purchasing an additional 625 shares during the period. Townsquare Capital LLC’s holdings in Equinix were worth $1,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix in the second quarter worth $30,000. GHP Investment Advisors Inc. increased its position 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 valued at $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its stake in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Meeder Asset Management Inc. bought a new position in Equinix during the second quarter worth about $36,000. Finally, Sugarloaf Wealth Management LLC grew its stake in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EQIX shares. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Scotiabank raised their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays increased their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Five 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $962.56.

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction that occurred 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 owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,754 shares of company stock worth $11,666,756. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $981.48 on Monday. The company has a market cap of $94.70 billion, a price-to-earnings ratio of 88.50, a PEG ratio of 2.53 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company’s fifty day simple moving average is $902.59 and its 200 day simple moving average is $833.34. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.74%. Equinix’s payout ratio is 153.65%.

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.