248 Shares in Equinix, Inc. (NASDAQ:EQIX) Purchased by Washington Trust Bank

Washington Trust Bank acquired a new position in Equinix, Inc. (NASDAQ:EQIX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 248 shares of the financial services provider’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after buying an additional 238,815 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after purchasing an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after purchasing an additional 19,844 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Equinix by 13.5% during the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock valued at $778,332,000 after purchasing an additional 112,194 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 equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group lifted their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $944.63.

Equinix Stock Up 1.9 %

EQIX stock opened at $907.74 on Friday. The business’s 50 day simple moving average is $874.46 and its 200 day simple moving average is $809.55. The firm has a market capitalization of $87.59 billion, a PE ratio of 81.85, a PEG ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix (NASDAQ:EQIX) last released its quarterly 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 firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $8.04 earnings per share. As a group, research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.88%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity at Equinix

In related news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,632 shares of company stock worth $10,633,777 in the last ninety days. 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.