Prime Capital Investment Advisors LLC Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Prime Capital Investment Advisors LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 63.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,487 shares of the financial services provider's stock after buying an additional 575 shares during the period. Prime Capital Investment Advisors LLC's holdings in Equinix were worth $1,320,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC lifted its holdings in shares of Equinix by 89,348.4% during the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock worth $354,111,000 after purchasing an additional 398,494 shares during the period. Swedbank AB bought a new stake in shares of Equinix in the 1st quarter valued at about $294,526,000. Principal Financial Group Inc. increased its stake in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider's stock valued at $1,428,606,000 after buying an additional 238,883 shares during the period. Vanguard Group Inc. raised its position in shares of Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider's stock worth $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of Equinix in the first quarter worth approximately $187,089,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on EQIX. JPMorgan Chase & Co. increased their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. BMO Capital Markets increased their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Cfra reaffirmed a "hold" rating on shares of Equinix in a research report on Tuesday, September 24th. Finally, Mizuho boosted their price objective on Equinix from $873.00 to $971.00 and gave the stock an "outperform" rating in a report on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $944.63.

Equinix Stock Performance

Shares of Equinix stock traded down $0.75 on Friday, reaching $897.37. 368,698 shares of the company traded hands, compared to its average volume of 526,622. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $86.59 billion, a PE ratio of 80.53, a PEG ratio of 2.26 and a beta of 0.71. The company has a 50 day moving average of $883.98 and a 200 day moving average of $815.75. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a 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 Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company's stock, valued at $7,729,900. The trade was a 8.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. This represents a 44.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,654 shares of company stock worth $11,577,656 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Equinix Company 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.