Quest Partners LLC Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Quest Partners LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 173.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,544 shares of the financial services provider's stock after purchasing an additional 1,612 shares during the quarter. Quest Partners LLC's holdings in Equinix were worth $2,258,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its position in Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock valued at $354,111,000 after acquiring an additional 398,494 shares during the period. Swedbank AB bought a new position in shares of Equinix during the first quarter valued at about $294,526,000. Principal Financial Group Inc. lifted its position in shares of Equinix by 14.5% during 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 purchasing an additional 238,883 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Equinix during the first quarter valued at about $145,308,000. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Equinix by 104.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider's stock valued at $238,133,000 after purchasing an additional 160,906 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX stock traded up $13.52 during trading hours on Tuesday, reaching $923.00. The company had a trading volume of 545,042 shares, compared to its average volume of 526,496. The business has a fifty day moving average price of $887.12 and a 200-day moving average price of $820.02. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. The firm has a market cap of $89.06 billion, a PE ratio of 83.25, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on EQIX. Evercore ISI raised their price target on shares of Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Barclays boosted their target price on shares of Equinix from $810.00 to $822.00 and gave the company an "equal weight" rating in a research note on Monday. Cfra reiterated a "hold" rating on shares of Equinix in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group boosted their target price on shares of Equinix from $870.00 to $980.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $945.38.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the transaction, the director now owns 17,794 shares in the company, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Simon Miller sold 569 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock valued at $11,666,756 over the last 90 days. 0.27% of the stock is owned by corporate 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.