CIBC Asset Management Inc Has $12.42 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

CIBC Asset Management Inc grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,987 shares of the financial services provider's stock after acquiring an additional 1,053 shares during the period. CIBC Asset Management Inc's holdings in Equinix were worth $12,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Equinix during the 2nd quarter worth $30,000. LRI Investments LLC purchased a new stake in Equinix during the 1st quarter worth $31,000. GHP Investment Advisors Inc. increased its holdings in 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 purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Equinix by 50.0% during 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 period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Equinix during the second quarter valued at approximately $36,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Down 0.1 %

EQIX stock opened at $897.37 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $86.59 billion, a P/E ratio of 80.92, a P/E/G ratio of 2.25 and a beta of 0.71. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The company's 50 day simple moving average is $885.56 and its 200-day simple moving average is $817.67.

Equinix Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. Equinix's dividend payout ratio (DPR) is presently 153.65%.

Insiders Place Their Bets

In other news, EVP Jonathan Lin sold 93 shares of Equinix 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 completion of the sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the transaction, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,654 shares of company stock worth $11,577,656. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent analyst reports. HSBC upgraded Equinix from a "hold" rating to a "buy" rating and boosted their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Mizuho lifted their price target on shares of Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a report on Thursday, September 12th. Scotiabank upped their price objective on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research note on Thursday, October 31st. BMO Capital Markets upped their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a report on Tuesday, October 1st. Five equities research 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $944.63.

Equinix Company 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.