Harbor Investment Advisory LLC Boosts Holdings in Equinix, Inc. (NASDAQ:EQIX)

Harbor Investment Advisory LLC increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,420 shares of the financial services provider's stock after purchasing an additional 1,219 shares during the quarter. Harbor Investment Advisory LLC's holdings in Equinix were worth $4,168,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EQIX. State Street Corp lifted its holdings 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 worth $5,171,405,000 after acquiring an additional 81,941 shares during the last quarter. Geode Capital Management LLC lifted its stake in Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider's stock valued at $2,079,591,000 after purchasing an additional 33,277 shares during the last quarter. Principal Financial Group Inc. boosted its position in Equinix by 0.3% in the third 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 buying an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Equinix by 5.0% in the 3rd 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 acquiring an additional 53,729 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Equinix from $950.00 to $975.00 and gave the stock an "overweight" rating in a report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Evercore ISI boosted their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. HSBC upgraded shares of Equinix from a "hold" rating to a "buy" rating and lifted their price target for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, Truist Financial increased their price objective on Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $976.81.

Equinix Stock Up 2.0 %

NASDAQ EQIX traded up $18.41 during mid-day trading on Tuesday, hitting $934.00. The company's stock had a trading volume of 593,816 shares, compared to its average volume of 531,676. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company's 50 day simple moving average is $941.69 and its 200 day simple moving average is $878.78. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market capitalization of $90.12 billion, a price-to-earnings ratio of 84.22, a PEG ratio of 2.18 and a beta of 0.73.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.82%. Equinix's payout ratio is 153.65%.

Insider Buying and Selling at Equinix

In related news, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares of the company's stock, valued at $20,085,186.32. The trade was a 12.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kurt Pletcher sold 341 shares of the company's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now owns 1,430 shares of the company's stock, valued at approximately $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,412 shares of company stock worth $18,826,100. Insiders own 0.27% of the company's stock.

About Equinix

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.