CCM Investment Advisers LLC Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

CCM Investment Advisers LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,513 shares of the financial services provider’s stock after acquiring an additional 592 shares during the quarter. CCM Investment Advisers LLC’s holdings in Equinix were worth $10,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. State Street Corp lifted its stake in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares during the last quarter. Geode Capital Management LLC raised its stake in Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after acquiring an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the transaction, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,398 shares of company stock valued at $7,906,218 over the last quarter. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 3.8 %

Shares of NASDAQ:EQIX traded down $36.48 during trading on Friday, reaching $914.56. The stock had a trading volume of 289,179 shares, compared to its average volume of 399,171. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market cap of $88.25 billion, a P/E ratio of 82.47, a PEG ratio of 2.48 and a beta of 0.72. The business has a fifty day moving average price of $941.24 and a 200-day moving average price of $869.42. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EQIX. BMO Capital Markets raised their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. 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 research report on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, Wells Fargo & Company increased their price objective on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $976.81.

Equinix Company 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.