Arthur M. Cohen & Associates LLC Purchases 441 Shares of Equinix, Inc. (NASDAQ:EQIX)

by · The Markets Daily

Arthur M. Cohen & Associates LLC boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 22.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,398 shares of the financial services provider’s stock after acquiring an additional 441 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Equinix were worth $2,117,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. Principal Financial Group Inc. grew its stake in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after acquiring an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after buying an additional 19,844 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its stake in shares of Equinix by 13.5% in the first quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock valued at $778,332,000 after buying an additional 112,194 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays raised 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. Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Scotiabank boosted their price target on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, TD Cowen lifted their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Read Our Latest Stock Analysis on Equinix

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Equinix news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,632 shares of company stock valued at $10,633,777. Company insiders own 0.27% of the company’s stock.

Equinix Stock Down 0.2 %

Equinix stock opened at $893.99 on Tuesday. 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 stock has a fifty day moving average of $871.10 and a 200 day moving average of $807.85. The stock has a market cap of $86.26 billion, a PE ratio of 80.79, a price-to-earnings-growth ratio of 2.14 and a beta of 0.71. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02.

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

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 annualized dividend and a dividend yield of 1.91%. Equinix’s payout ratio is presently 153.65%.

Equinix Company Profile

(Free Report)

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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