Massachusetts Financial Services Co. MA Has $370.90 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Massachusetts Financial Services Co. MA grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 490,221 shares of the financial services provider's stock after buying an additional 9,290 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.52% of Equinix worth $370,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of EQIX. CNB Bank increased its holdings in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider's stock worth $25,000 after acquiring an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC bought a new stake in shares of Equinix in the first quarter worth $31,000. Meeder Asset Management Inc. acquired a new position in Equinix during the second quarter worth $36,000. Finally, Rise Advisors LLC bought a new position in Equinix in the first quarter valued at $39,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

EQIX stock traded down $12.24 during midday trading on Tuesday, reaching $864.33. The company had a trading volume of 322,154 shares, compared to its average volume of 544,210. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The stock has a 50 day moving average price of $815.81 and a 200-day moving average price of $792.51. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $82.03 billion, a price-to-earnings ratio of 86.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

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). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company posted $8.04 EPS. The business's revenue was up 6.9% on a year-over-year basis. Equities research analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix's dividend payout ratio (DPR) is presently 170.91%.

Insiders Place Their Bets

In related news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares of the company's stock, valued at approximately $3,262.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Michael Earl Campbell sold 600 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $816.73, for a total transaction of $490,038.00. Following the completion of the transaction, the insider now directly owns 14,800 shares of the company's stock, valued at approximately $12,087,604. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank of Canada cut their price target on shares of Equinix from $950.00 to $922.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 28th. Barclays increased their price target on Equinix from $669.00 to $671.00 and gave the company an "equal weight" rating in a research report on Thursday, May 30th. Wells Fargo & Company upgraded Equinix from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Truist Financial raised their target price on shares of Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Finally, TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $883.71.

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.