Equinix, Inc. (NASDAQ:EQIX) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 64.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,740 shares of the financial services provider's stock after selling 3,149 shares during the period. QRG Capital Management Inc.'s holdings in Equinix were worth $1,545,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix during the second quarter worth approximately $30,000. LRI Investments LLC purchased a new position in shares of Equinix during the 1st quarter valued at approximately $31,000. GHP Investment Advisors Inc. lifted its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock valued at $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC grew its stake in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 13 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Equinix in the 2nd quarter worth $36,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Up 1.5 %

Shares of EQIX stock traded up $13.32 on Friday, reaching $921.06. 535,919 shares of the stock were exchanged, compared to its average volume of 528,401. The company has a market capitalization of $88.87 billion, a price-to-earnings ratio of 83.05, a PEG ratio of 2.15 and a beta of 0.71. The business's 50 day moving average price is $874.46 and its 200 day moving average price is $809.55. 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, Inc. has a twelve month low of $684.14 and a twelve month high of $943.02.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts' consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. The company's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.04 EPS. As a group, sell-side analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.85%. Equinix's dividend payout ratio (DPR) is presently 153.65%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQIX. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Scotiabank lifted their price target on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their price objective on Equinix from $875.00 to $975.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Finally, Truist Financial lifted their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of "Moderate Buy" and an average target price of $944.63.

Insider Buying and Selling at Equinix

In other news, insider Meredith Williamson sold 576 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Insiders sold 12,632 shares of company stock worth $10,633,777 over the last 90 days. Corporate insiders own 0.27% of the company's stock.

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.