970 Shares in Equinix, Inc. (NASDAQ:EQIX) Acquired by WESPAC Advisors SoCal LLC

WESPAC Advisors SoCal LLC purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 970 shares of the financial services provider's stock, valued at approximately $861,000.

A number of other hedge funds also recently modified their holdings of EQIX. Cypress Capital Group boosted its holdings in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider's stock valued at $435,000 after acquiring an additional 13 shares during the last quarter. MRA Advisory Group boosted its stake in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 13 shares during the last quarter. GHP Investment Advisors Inc. increased its position 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 worth $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC raised its stake in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Banco Santander S.A. lifted its holdings in Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider's stock valued at $577,000 after buying an additional 14 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EQIX. Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. HSBC raised Equinix from a "hold" rating to a "buy" rating and raised their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Hsbc Global Res upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, October 4th. TD Cowen raised their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. 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 report on Thursday, September 26th. Five investment 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $944.63.

Equinix Stock Performance

Shares of Equinix stock traded down $0.75 during trading hours on Friday, hitting $897.37. 368,707 shares of the company's stock traded hands, compared to its average volume of 493,534. The company has a fifty day simple moving average of $885.56 and a 200-day simple moving average of $817.67. 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 stock has a market capitalization of $86.59 billion, a price-to-earnings ratio of 80.92, a PEG ratio of 2.25 and a beta of 0.71. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02.

Equinix Dividend Announcement

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

Insider Transactions at Equinix

In other news, EVP Jonathan Lin sold 93 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares of the company's stock, valued at approximately $5,862,689.59. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of the firm's stock in a transaction 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 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 position. The disclosure for this sale can be found here. Insiders sold 13,654 shares of company stock worth $11,577,656 over the last quarter. Corporate insiders own 0.27% of the company's stock.

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.