Swiss National Bank Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

Swiss National Bank raised its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 281,703 shares of the financial services provider's stock after acquiring an additional 700 shares during the period. Swiss National Bank owned approximately 0.29% of Equinix worth $250,048,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial upped their price target on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Barclays upped their price target on Equinix from $671.00 to $810.00 and gave the company an "equal weight" rating in a report on Monday, October 28th. Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Cfra reissued a "hold" rating on shares of Equinix in a report on Tuesday, September 24th. Finally, Mizuho increased their target price on Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a report on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $944.63.

Equinix Stock Down 0.1 %

NASDAQ EQIX opened at $897.37 on Friday. The stock's 50-day moving average price is $885.56 and its 200-day moving average price is $817.67. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02. The company has a market capitalization of $86.59 billion, a P/E ratio of 80.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend 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

In related news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % 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 Brandi Galvin Morandi sold 864 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company's stock, valued at $7,729,900. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,654 shares of company stock worth $11,577,656. 0.27% of the stock is owned by corporate insiders.

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.

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