WESPAC Advisors LLC Boosts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

WESPAC Advisors LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,083 shares of the financial services provider’s stock after purchasing an additional 60 shares during the quarter. WESPAC Advisors LLC’s holdings in Equinix were worth $961,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC purchased a new position in shares of Equinix in the 1st quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix in the 2nd quarter valued at about $30,000. GHP Investment Advisors Inc. grew its position in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC increased its stake in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction 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 transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,754 shares of company stock worth $11,666,756. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $936.37 on Friday. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02. The stock has a fifty day moving average price of $891.74 and a 200-day moving average price of $825.46. 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 firm has a market cap of $90.35 billion, a PE ratio of 84.43, a P/E/G ratio of 2.38 and a beta of 0.71.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.82%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Wall Street Analyst Weigh In

EQIX has been the topic of several analyst reports. Truist Financial boosted their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. BMO Capital Markets increased their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, TD Cowen lifted their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average target price of $952.88.

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.