Worth Financial Advisory Group LLC Acquires 96 Shares of Equinix, Inc. (NASDAQ:EQIX)

Worth Financial Advisory Group LLC boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 14.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 778 shares of the financial services provider’s stock after acquiring an additional 96 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Equinix were worth $691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Cypress Capital Group raised its stake in shares of Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares during the period. MRA Advisory Group boosted its holdings in Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after buying an additional 13 shares during the period. GHP Investment Advisors Inc. lifted its position in shares of Equinix by 50.0% during 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. Banco Santander S.A. boosted its holdings in shares of Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 14 shares during the period. Finally, Abbrea Capital LLC lifted its holdings in shares of Equinix by 5.5% in the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after buying an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group boosted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their price target for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, Barclays upped their target price on shares of Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $927.67.

Equinix Trading Down 0.2 %

Shares of NASDAQ EQIX opened at $912.62 on Tuesday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50-day moving average of $863.21 and a 200 day moving average of $802.33. The stock has a market cap of $86.61 billion, a P/E ratio of 91.54, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.04 earnings per share. As a group, sell-side analysts expect that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. Equinix’s dividend payout ratio is currently 170.91%.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were 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 directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,906 shares of company stock worth $9,071,764 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Equinix 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.