Prosperity Financial Group Inc. Invests $230,000 in Equinix, Inc. (NASDAQ:EQIX)

Prosperity Financial Group Inc. acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the third quarter, HoldingsChannel reports. The firm acquired 259 shares of the financial services provider’s stock, valued at approximately $230,000.

Other large investors have also added to or reduced their stakes in the company. BDF Gestion bought a new stake in Equinix in the 2nd quarter valued at $2,659,000. Van ECK Associates Corp raised its stake in Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after acquiring an additional 1,716 shares during the period. E. Ohman J or Asset Management AB raised its stake in Equinix by 3.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after acquiring an additional 1,103 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Equinix by 25.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after acquiring an additional 75,888 shares during the period. Finally, Raymond James & Associates raised its stake in Equinix by 3.0% in the 2nd quarter. Raymond James & Associates now owns 172,904 shares of the financial services provider’s stock valued at $130,819,000 after acquiring an additional 5,056 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The trade was a 99.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction 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. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock valued at $11,666,756 over the last 90 days. Insiders own 0.27% of the company’s stock.

Equinix Trading Up 1.4 %

Shares of Equinix stock opened at $936.37 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02. The stock has a 50 day moving average price of $891.74 and a two-hundred day moving average price of $826.40. The stock has a market capitalization of $90.35 billion, a PE ratio of 84.43, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.82%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Analyst Ratings Changes

EQIX has been the topic of a number of research reports. Barclays upped their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Mizuho increased their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. HSBC raised Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $952.88.

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.