Altman Advisors Inc. Purchases New Holdings in Equinix, Inc. (NASDAQ:EQIX)

Altman Advisors Inc. acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,935 shares of the financial services provider's stock, valued at approximately $1,718,000.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Equinix by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider's stock valued at $1,148,504,000 after buying an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider's stock worth $1,009,293,000 after purchasing an additional 19,844 shares during the period. Clearbridge Investments LLC grew its stake in shares of Equinix by 21.5% in the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider's stock worth $682,826,000 after purchasing an additional 159,576 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Equinix by 7.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider's stock valued at $665,807,000 after purchasing an additional 59,343 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 44.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares of the company's stock, valued at approximately $4,559,334.14. This represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,754 shares of company stock valued at $11,666,756. Company insiders own 0.27% of the company's stock.

Equinix Stock Down 0.4 %

Shares of NASDAQ:EQIX traded down $4.06 during midday trading on Wednesday, reaching $918.94. The company had a trading volume of 664,226 shares, compared to its average volume of 527,108. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The stock has a market cap of $88.67 billion, a PE ratio of 82.73, a P/E/G ratio of 2.25 and a beta of 0.71. 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 business's 50 day moving average price is $888.28 and its 200 day moving average price is $821.59.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Wednesday, November 13th. Equinix's payout ratio is presently 153.65%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EQIX shares. The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a research report on Tuesday, August 13th. HSBC raised Equinix from a "hold" rating to a "buy" rating and lifted their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Barclays lifted their target price on shares of Equinix from $810.00 to $822.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Scotiabank upped their target price on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $952.88.

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.