Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Cim Investment Management Inc.

Cim Investment Management Inc. lifted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 31.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,674 shares of the financial services provider's stock after buying an additional 879 shares during the quarter. Equinix makes up about 1.0% of Cim Investment Management Inc.'s portfolio, making the stock its 15th biggest position. Cim Investment Management Inc.'s holdings in Equinix were worth $3,261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GS Investments Inc. grew its stake in Equinix by 0.5% in the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider's stock worth $2,087,000 after acquiring an additional 12 shares in the last quarter. Cypress Capital Group grew its stake in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider's stock worth $435,000 after purchasing an additional 13 shares in the last quarter. MRA Advisory Group raised its position in Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 13 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after buying an additional 13 shares during the period. Finally, Fortitude Family Office LLC grew its position 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 worth $35,000 after buying an additional 13 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now directly owns 3,069 shares of the company's stock, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kurt Pletcher sold 222 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the sale, the insider now directly owns 1,015 shares in the company, valued at $976,633. The trade was a 17.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

Equinix stock traded up $1.73 during trading hours on Thursday, hitting $975.30. 284,474 shares of the stock traded hands, compared to its average volume of 528,811. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock has a market capitalization of $94.10 billion, a price-to-earnings ratio of 87.94, a P/E/G ratio of 2.54 and a beta of 0.72. 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's 50 day moving average price is $916.16 and its 200-day moving average price is $843.28.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.75%. Equinix's dividend payout ratio (DPR) is presently 153.65%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Equinix from $985.00 to $1,100.00 and gave the stock an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. Truist Financial boosted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a "buy" rating in a research note on Friday, November 29th. Stifel Nicolaus increased their target price on Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, Scotiabank boosted their price target on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $976.81.

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.