Empirical Asset Management LLC Takes $26.51 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Empirical Asset Management LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 28,115 shares of the financial services provider's stock, valued at approximately $26,509,000. Equinix accounts for about 0.8% of Empirical Asset Management LLC's portfolio, making the stock its 29th largest position.

Several other hedge funds have also modified their holdings of EQIX. Renaissance Technologies LLC grew its position in Equinix by 81.9% during the second quarter. Renaissance Technologies LLC now owns 30,870 shares of the financial services provider's stock valued at $23,356,000 after acquiring an additional 13,900 shares during the period. Wealth Alliance lifted its stake in shares of Equinix by 3.3% in the 2nd quarter. Wealth Alliance now owns 944 shares of the financial services provider's stock valued at $714,000 after purchasing an additional 30 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Equinix during the 2nd quarter worth about $265,000. Vanguard Personalized Indexing Management LLC increased its position in Equinix by 6.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,718 shares of the financial services provider's stock worth $5,058,000 after purchasing an additional 388 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Equinix by 1.6% in the second quarter. Blair William & Co. IL now owns 26,459 shares of the financial services provider's stock valued at $20,019,000 after buying an additional 419 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction 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 transaction, the chief executive officer now directly owns 3,069 shares in the company, valued at $2,951,211.78. The trade was a 49.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares in the company, valued at $7,531,365. The trade was a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by company insiders.

Equinix Stock Performance

Shares of EQIX traded down $2.85 during midday trading on Friday, hitting $917.04. 199,784 shares of the stock traded hands, compared to its average volume of 486,778. The business's 50 day moving average price is $941.51 and its two-hundred day moving average price is $874.47. The firm has a market capitalization of $88.49 billion, a PE ratio of 82.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. Equinix's dividend payout ratio is presently 153.65%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EQIX. Cfra reiterated a "hold" rating on shares of Equinix in a research note on Tuesday, September 24th. Scotiabank upped their price target on shares of Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the company a "buy" rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Finally, Evercore ISI upped their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.