Empirical Asset Management LLC Acquires New Shares in Equinix, Inc. (NASDAQ:EQIX)

Empirical Asset Management LLC bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 28,115 shares of the financial services provider’s stock, valued at approximately $26,509,000. Equinix makes up about 0.8% of Empirical Asset Management LLC’s investment portfolio, making the stock its 29th largest holding.

Other large investors have also recently bought and sold shares of the company. Inspire Trust Co. N.A. lifted its holdings in shares of Equinix by 0.7% during the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the period. GS Investments Inc. raised its position in Equinix by 0.5% during the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after purchasing an additional 12 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after buying an additional 12 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC grew its position in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. This represents a 9.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,398 shares of company stock worth $7,906,218 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of analyst reports. Barclays raised their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial lifted their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Evercore ISI lifted their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Three 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $976.81.

Equinix Trading Up 2.2 %

NASDAQ EQIX opened at $919.89 on Friday. The company has a market cap of $88.76 billion, a price-to-earnings ratio of 82.95, a P/E/G ratio of 2.12 and a beta of 0.73. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The business has a 50 day moving average price of $941.51 and a 200-day moving average price of $874.47. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.85%. Equinix’s dividend payout ratio is 153.65%.

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.