Los Angeles Capital Management LLC Purchases 31,257 Shares of Equinix, Inc. (NASDAQ:EQIX)

Los Angeles Capital Management LLC raised its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 407.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,931 shares of the financial services provider's stock after buying an additional 31,257 shares during the quarter. Los Angeles Capital Management LLC's holdings in Equinix were worth $34,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the 2nd quarter worth about $30,000. LRI Investments LLC acquired a new stake in shares of Equinix during the first quarter worth approximately $31,000. GHP Investment Advisors Inc. grew its position in Equinix by 50.0% during the third 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 increased its stake in Equinix by 50.0% in 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 Equinix in the 2nd quarter worth approximately $36,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

EQIX stock traded down $7.56 on Monday, reaching $913.50. 289,737 shares of the company were exchanged, compared to its average volume of 527,306. The firm has a market capitalization of $88.14 billion, a PE ratio of 83.05, a PEG ratio of 2.31 and a beta of 0.71. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02. The stock's fifty day moving average price is $877.98 and its 200 day moving average price is $812.12. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Announces Dividend

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 issued a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.87%. Equinix's payout ratio is 153.65%.

Wall Street Analyst Weigh In

EQIX has been the subject of several recent research reports. TD Cowen increased their price objective on Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. Mizuho increased their price objective on Equinix from $873.00 to $971.00 and gave the stock an "outperform" rating in a report on Thursday, September 12th. Scotiabank raised their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a "sector outperform" rating in a research report on Thursday, October 31st. Finally, HSBC raised shares of Equinix from a "hold" rating to a "buy" rating and boosted their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Five investment 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $944.63.

Insider Activity

In related news, CAO Simon Miller sold 569 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 1,726 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the completion of the sale, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,632 shares of company stock valued at $10,633,777. Insiders own 0.27% of the company's stock.

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.