Thurston Springer Miller Herd & Titak Inc. Invests $30,000 in Equinix, Inc. (NASDAQ:EQIX)

Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 39 shares of the financial services provider’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also modified their holdings of EQIX. Norges Bank acquired a new position in shares of Equinix in the 4th quarter valued at about $1,574,132,000. Swedbank AB acquired a new position in Equinix during the 1st quarter valued at about $294,526,000. Vanguard Group Inc. boosted its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. M&G Plc acquired a new position in Equinix during the 1st quarter valued at about $187,089,000. Finally, Principal Financial Group Inc. boosted its stake in Equinix by 14.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock valued at $1,361,224,000 after purchasing an additional 213,740 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EQIX. Barclays boosted their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada reduced their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. The Goldman Sachs Group started coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Finally, TD Cowen reduced their price target 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. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $871.29.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $16.37 during midday trading on Tuesday, reaching $784.61. The company’s stock had a trading volume of 410,354 shares, compared to its average volume of 567,540. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The company has a 50 day moving average price of $771.54 and a 200 day moving average price of $796.16. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a market cap of $74.46 billion, a price-to-earnings ratio of 78.71, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were issued a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.17%. Equinix’s payout ratio is currently 170.91%.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now owns 17,641 shares in the company, valued at $14,341,780.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equinix 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 value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction 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 owned by company insiders.

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.