Atomi Financial Group Inc. increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,504 shares of the financial services provider's stock after acquiring an additional 686 shares during the quarter. Atomi Financial Group Inc.'s holdings in Equinix were worth $3,110,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of EQIX. CNB Bank increased its holdings in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider's stock worth $25,000 after purchasing an additional 19 shares during the period. LRI Investments LLC bought a new position in Equinix during the first quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Equinix in the 2nd quarter valued at approximately $30,000. Rise Advisors LLC bought a new stake in shares of Equinix in the 1st quarter worth approximately $39,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Equinix during the 2nd quarter worth approximately $36,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on the company. Truist Financial raised their target price on Equinix from $915.00 to $935.00 and gave the stock a "buy" rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an "overweight" rating in a report on Tuesday, October 1st. Wells Fargo & Company raised shares of Equinix from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. TD Cowen raised their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Equinix currently has a consensus rating of "Moderate Buy" and an average price target of $903.80.
Get Our Latest Report on Equinix
In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brandi Galvin Morandi sold 864 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Simon Miller sold 569 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company's stock, valued at $4,559,334.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 over the last 90 days. 0.27% of the stock is owned by company insiders.
NASDAQ EQIX traded up $3.63 on Tuesday, hitting $873.64. 49,468 shares of the company were exchanged, compared to its average volume of 535,350. 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 company has a market cap of $82.91 billion, a P/E ratio of 87.86, a P/E/G ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The firm has a 50 day moving average of $840.12 and a two-hundred day moving average of $792.99.
Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results 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). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $8.04 earnings per share. Equinix's revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders 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 dividend yield of 1.95%. Equinix's payout ratio is currently 170.91%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Equinix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Equinix wasn't on the list.
While Equinix currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.