Hutchens & Kramer Investment Management Group LLC Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Hutchens & Kramer Investment Management Group LLC raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 16.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 414 shares of the financial services provider’s stock after acquiring an additional 58 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in Equinix were worth $366,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EQIX. Global Assets Advisory LLC purchased a new position in Equinix in the 1st quarter worth approximately $15,187,000. Banque Cantonale Vaudoise lifted its holdings in shares of Equinix by 48.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after buying an additional 2,133 shares in the last quarter. BDF Gestion bought a new position in shares of Equinix during the second quarter worth $2,659,000. Bessemer Group Inc. grew its stake in Equinix by 159.4% during the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock valued at $1,854,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Brookmont Capital Management bought a new stake in Equinix in the 1st quarter valued at $2,894,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Trading Up 1.4 %

NASDAQ EQIX traded up $12.01 during trading on Tuesday, hitting $878.03. The stock had a trading volume of 558,062 shares, compared to its average volume of 532,482. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The stock has a 50 day simple moving average of $848.37 and a 200 day simple moving average of $795.27. The stock has a market capitalization of $83.33 billion, a price-to-earnings ratio of 88.11, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.04 earnings per share. Sell-side analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Insider Activity at Equinix

In other Equinix news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares in the company, 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 10,043 shares of company stock worth $8,282,119 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Mizuho increased their target price on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, Truist Financial boosted their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $907.21.

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.