JPMorgan Chase & Co. Purchases 203,656 Shares of Equinix, Inc. (NASDAQ:EQIX)

JPMorgan Chase & Co. lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 17.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,338,597 shares of the financial services provider's stock after purchasing an additional 203,656 shares during the period. JPMorgan Chase & Co. owned 1.39% of Equinix worth $1,188,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. boosted its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 13 shares during the period. Sugarloaf Wealth Management LLC increased its position in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider's stock worth $36,000 after buying an additional 20 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Equinix in the second quarter valued at $36,000. Finally, Dunhill Financial LLC lifted its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after buying an additional 25 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of EQIX stock traded down $5.73 during trading hours on Friday, hitting $942.66. 289,729 shares of the company's stock were exchanged, compared to its average volume of 528,860. The company has a market capitalization of $90.96 billion, a PE ratio of 85.00, a PEG ratio of 2.51 and a beta of 0.72. The business's 50 day simple moving average is $933.01 and its 200-day simple moving average is $858.21. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix's dividend payout ratio (DPR) is presently 153.65%.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 863 shares of the business's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the transaction, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. This represents a 9.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock worth $7,906,218 in the last ninety days. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on Equinix from $975.00 to $1,020.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Truist Financial lifted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a research note on Friday, November 29th. Evercore ISI boosted their price objective on Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Cfra reaffirmed a "hold" rating on shares of Equinix in a report on Tuesday, September 24th. Finally, Hsbc Global Res upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 4th. 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.