Prosperity Financial Group Inc. Acquires New Holdings in Equinix, Inc. (NASDAQ:EQIX)

Prosperity Financial Group Inc. purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 259 shares of the financial services provider’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Equinix during the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the first quarter worth $31,000. GHP Investment Advisors Inc. grew its stake in shares of Equinix by 50.0% in 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 during the last quarter. Fortitude Family Office LLC grew its stake in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Equinix in the second quarter worth $36,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQIX. Barclays raised their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Mizuho lifted their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, Evercore ISI lifted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $952.88.

Equinix Price Performance

Shares of EQIX stock opened at $936.37 on Monday. The stock has a 50-day moving average price of $891.74 and a 200 day moving average price of $826.40. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $90.35 billion, a price-to-earnings ratio of 84.43, a PEG ratio of 2.41 and a beta of 0.71. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. Equinix’s payout ratio is currently 153.65%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The trade was a 8.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares in the company, valued at $4,518,979.08. The trade was a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is currently 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.