Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,470 shares of the financial services provider’s stock after buying an additional 100 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Equinix were worth $7,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Founders Financial Securities LLC raised its holdings in Equinix by 6.4% in the 1st quarter. Founders Financial Securities LLC now owns 677 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 41 shares during the period. Vicus Capital acquired a new position in Equinix in the 1st quarter worth about $210,000. OneAscent Financial Services LLC raised its holdings in Equinix by 19.8% in the 1st quarter. OneAscent Financial Services LLC now owns 703 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 116 shares during the period. OneAscent Wealth Management LLC raised its holdings in Equinix by 31.8% in the 1st quarter. OneAscent Wealth Management LLC now owns 464 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 112 shares during the period. Finally, Harbour Capital Advisors LLC raised its holdings in Equinix by 13.3% in the 1st quarter. Harbour Capital Advisors LLC now owns 2,990 shares of the financial services provider’s stock worth $2,370,000 after purchasing an additional 352 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Up 0.4 %

Equinix stock traded up $3.08 during midday trading on Monday, reaching $759.68. The company’s stock had a trading volume of 316,913 shares, compared to its average volume of 598,790. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The company has a market cap of $72.10 billion, a P/E ratio of 76.20, a P/E/G ratio of 2.63 and a beta of 0.68. The business has a 50-day simple moving average of $755.85 and a 200-day simple moving average of $800.12.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Tuesday, May 21st. Equinix’s dividend payout ratio is presently 170.91%.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated 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 $10,212,779. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the transaction, the director now directly 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 owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on EQIX shares. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a report on Wednesday, March 20th. Stifel Nicolaus reissued a “buy” rating and set a $960.00 target price on shares of Equinix in a report on Wednesday, March 13th. Royal Bank of Canada reduced their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. The Goldman Sachs Group started coverage on Equinix in a report on Monday. They set a “buy” rating and a $870.00 target price for the company. Finally, Morgan Stanley reduced their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $872.33.

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.