Contravisory Investment Management Inc. Purchases 18 Shares of Equinix, Inc. (NASDAQ:EQIX)

Contravisory Investment Management Inc. grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIXFree Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 693 shares of the financial services provider’s stock after buying an additional 18 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Equinix were worth $572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Equinix in the 4th quarter worth approximately $1,574,132,000. Public Employees Retirement Association of Colorado grew its position in Equinix by 296.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 144,596 shares of the financial services provider’s stock worth $116,456,000 after purchasing an additional 108,099 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Equinix by 27.3% in the third quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock valued at $313,461,000 after purchasing an additional 92,575 shares during the period. Heitman Real Estate Securities LLC increased its stake in shares of Equinix by 51.3% in the fourth quarter. Heitman Real Estate Securities LLC now owns 185,660 shares of the financial services provider’s stock worth $149,529,000 after acquiring an additional 62,989 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in Equinix by 628.9% during the fourth quarter. Westfield Capital Management Co. LP now owns 70,726 shares of the financial services provider’s stock valued at $56,962,000 after acquiring an additional 61,023 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen cut their target price on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Morgan Stanley reduced their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Stifel Nicolaus restated a “buy” rating and set a $960.00 target price on shares of Equinix in a report on Wednesday, March 13th. HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research report on Wednesday, March 20th. Finally, Oppenheimer increased their price target on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $871.00.

Get Our Latest Stock Analysis on Equinix

Equinix Price Performance

Equinix stock traded up $1.40 during mid-day trading on Friday, reaching $765.00. The company had a trading volume of 985,003 shares, compared to its average volume of 389,663. The stock’s 50-day simple moving average is $755.11 and its 200-day simple moving average is $802.10. The company has a market capitalization of $72.61 billion, a P/E ratio of 76.73, a P/E/G ratio of 2.66 and a beta of 0.68. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Equinix Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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