MainStreet Investment Advisors LLC Invests $639,000 in Equinix, Inc. (NASDAQ:EQIX)

MainStreet Investment Advisors LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 845 shares of the financial services provider's stock, valued at approximately $639,000.

A number of other institutional investors have also recently modified their holdings of EQIX. CNB Bank raised its position in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Equinix during the 1st quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix in the second quarter valued at about $30,000. Rise Advisors LLC bought a new position in Equinix in the first quarter valued at about $39,000. Finally, UMB Bank n.a. raised its stake in Equinix by 30.0% during the first quarter. UMB Bank n.a. now owns 65 shares of the financial services provider's stock worth $54,000 after acquiring an additional 15 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Down 0.5 %

Shares of EQIX traded down $3.78 during trading hours on Friday, hitting $817.96. 457,770 shares of the stock were exchanged, compared to its average volume of 549,600. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The business has a 50-day moving average of $800.75 and a 200-day moving average of $793.56. The firm has a market capitalization of $77.63 billion, a P/E ratio of 82.04, a price-to-earnings-growth ratio of 2.03 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts' consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business's revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.04 earnings per share. On average, research analysts expect that Equinix, Inc. will post 31.04 EPS for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.08%. Equinix's payout ratio is presently 170.91%.

Insider Transactions at Equinix

In other Equinix news, insider Meredith Williamson sold 576 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equinix news, insider Meredith Williamson sold 576 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Simon Miller sold 569 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company's stock, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. Insiders have sold 7,472 shares of company stock valued at $6,154,812 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EQIX shares. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday, July 1st. They set a "buy" rating and a $870.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. Barclays raised their price objective on Equinix from $669.00 to $671.00 and gave the company an "equal weight" rating in a report on Thursday, May 30th. Truist Financial upped their target price on Equinix from $915.00 to $935.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company raised Equinix from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Equinix presently has an average rating of "Moderate Buy" and an average price target of $876.71.

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.