Geode Capital Management LLC Buys 33,277 Shares of Equinix, Inc. (NASDAQ:EQIX)

Geode Capital Management LLC boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,350,508 shares of the financial services provider's stock after acquiring an additional 33,277 shares during the period. Geode Capital Management LLC owned 2.44% of Equinix worth $2,079,591,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EQIX. State Street Corp raised its stake in shares of Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock valued at $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after acquiring an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Equinix by 1.5% in the second 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider's stock valued at $1,006,724,000 after purchasing an additional 53,729 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Equinix by 302.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider's stock valued at $960,820,000 after purchasing an additional 813,666 shares during the period. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group increased their price objective on 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 upped their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. BMO Capital Markets lifted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Barclays increased their price target on Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th. Finally, TD Cowen raised their price target on Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $970.38.

Insider Buying and Selling at Equinix

In other news, CFO Keith D. Taylor sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares of the company's stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,398 shares of company stock valued at $7,906,218. Company insiders own 0.27% of the company's stock.

Equinix Trading Down 0.7 %

NASDAQ:EQIX traded down $7.26 during mid-day trading on Tuesday, hitting $961.72. The company had a trading volume of 466,111 shares, compared to its average volume of 530,407. 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 fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a market cap of $92.80 billion, a P/E ratio of 86.72, a P/E/G ratio of 2.54 and a beta of 0.72. The business's fifty day moving average is $912.85 and its two-hundred day moving average is $840.99.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix's payout ratio is presently 153.65%.

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.