Metis Global Partners LLC Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

Metis Global Partners LLC boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 19.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,972 shares of the financial services provider's stock after buying an additional 2,871 shares during the quarter. Metis Global Partners LLC's holdings in Equinix were worth $15,952,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. BDF Gestion bought a new position in shares of Equinix during the 2nd quarter worth approximately $2,659,000. Van ECK Associates Corp raised its holdings in Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider's stock worth $18,099,000 after acquiring an additional 1,716 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Equinix by 159.4% during the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider's stock worth $1,854,000 after purchasing an additional 1,380 shares during the period. E. Ohman J or Asset Management AB increased its stake in Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider's stock worth $33,215,000 after acquiring an additional 1,103 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of Equinix by 25.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider's stock valued at $279,516,000 after purchasing an additional 75,888 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

EQIX traded down $3.03 during midday trading on Thursday, hitting $898.12. 414,246 shares of the company traded hands, compared to its average volume of 527,336. 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 has a market capitalization of $86.66 billion, a price-to-earnings ratio of 81.26, a PEG ratio of 2.27 and a beta of 0.71. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The business has a 50 day simple moving average of $882.45 and a two-hundred day simple moving average of $815.17.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix's dividend payout ratio is currently 153.65%.

Insider Transactions at Equinix

In other Equinix news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company's stock, valued at $5,862,689.59. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,654 shares of company stock valued at $11,577,656. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial boosted their price objective on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Barclays upped their price target on shares of Equinix from $671.00 to $810.00 and gave the stock an "equal weight" rating in a report on Monday, October 28th. JPMorgan Chase & Co. raised their price objective on Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Cfra reaffirmed a "hold" rating on shares of Equinix in a research note on Tuesday, September 24th. Finally, Hsbc Global Res upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $944.63.

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.