Beacon Investment Advisory Services Inc. Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

Beacon Investment Advisory Services Inc. increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,742 shares of the financial services provider’s stock after buying an additional 507 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Equinix were worth $5,097,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. boosted its holdings in shares of Equinix by 2,184.6% in the third quarter. Benjamin Edwards Inc. now owns 30,385 shares of the financial services provider’s stock valued at $26,982,000 after purchasing an additional 29,055 shares during the period. Atom Investors LP raised its position in Equinix by 37.1% during the 3rd quarter. Atom Investors LP now owns 3,604 shares of the financial services provider’s stock valued at $3,199,000 after purchasing an additional 975 shares in the last quarter. Bamco Inc. NY grew its position in shares of Equinix by 26.6% during the 3rd quarter. Bamco Inc. NY now owns 242,133 shares of the financial services provider’s stock worth $214,925,000 after buying an additional 50,913 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Equinix during the third quarter valued at $36,411,000. Finally, Adelante Capital Management LLC increased its stake in shares of Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after buying an additional 344,114 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.2 %

Shares of EQIX opened at $981.48 on Monday. The company has a market capitalization of $94.70 billion, a price-to-earnings ratio of 88.50, a PEG ratio of 2.53 and a beta of 0.71. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The stock’s 50-day moving average price is $902.59 and its 200-day moving average price is $833.34. 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 Announces Dividend

The company also recently announced 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. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EQIX shares. Barclays increased their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Truist Financial increased their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. TD Cowen increased 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. Finally, BMO Capital Markets increased their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average target price of $962.56.

Insider Buying and Selling

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the sale, the director now owns 17,794 shares in the company, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This trade represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,754 shares of company stock valued at $11,666,756. Corporate insiders own 0.27% of the company’s stock.

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.