Victory Capital Management Inc. Purchases 5,786 Shares of Equinix, Inc. (NASDAQ:EQIX)

Victory Capital Management Inc. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 14.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,651 shares of the financial services provider's stock after acquiring an additional 5,786 shares during the quarter. Victory Capital Management Inc.'s holdings in Equinix were worth $39,634,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EQIX. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix during the second quarter worth approximately $30,000. LRI Investments LLC acquired a new stake in Equinix during the 1st quarter worth approximately $31,000. GHP Investment Advisors Inc. boosted its stake in Equinix by 50.0% in the 3rd 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 during the period. Fortitude Family Office LLC grew its holdings 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 buying an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Equinix in the 2nd quarter valued at $36,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Equinix news, CAO Simon Miller sold 569 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 5,554 shares of the company's stock, valued at $4,559,334.14. The trade was a 9.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now owns 4,893 shares of the company's stock, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,654 shares of company stock worth $11,577,656. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EQIX shares. TD Cowen boosted their target price on shares of Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Equinix from $875.00 to $975.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their target price 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. Cfra reiterated a "hold" rating on shares of Equinix in a research report on Tuesday, September 24th. Finally, Barclays increased their price target on Equinix from $671.00 to $810.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $944.63.

Equinix Price Performance

Shares of Equinix stock traded down $0.75 during midday trading on Friday, hitting $897.37. 368,707 shares of the company traded hands, compared to its average volume of 526,622. The stock has a market cap of $86.59 billion, a price-to-earnings ratio of 80.92, a PEG ratio of 2.26 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. The firm's fifty day moving average price is $885.56 and its 200-day moving average price is $816.93. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. Equinix's dividend payout ratio (DPR) is presently 153.65%.

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.