Equinix, Inc. (NASDAQ: EQIX), a leading provider of financial services, has recently experienced a decrease in its shares held by Gradient Investments LLC. According to the companys filing with the Securities and Exchange Commission (SEC) for the second quarter of this year, Gradient Investments LLC reduced its position in Equinix by 2.7%. During this period, the firm sold 280 shares, leaving it with a total of 9,905 shares. The value of these holdings as of the latest SEC filing was $7,765,000.
Furthermore, Equinix’s Chief Financial Officer (CFO), Keith D. Taylor, conducted a sale transaction on August 30th. In this transaction, Taylor sold 2,000 shares at an average price of $790.41 per share, resulting in a total transaction value of $1,580,820. After completing this sale, Taylor now owns 20,177 shares in the company worth approximately $15,948,102.57.
The sale conducted by CFO Keith D. Taylor was disclosed in a filing with the SEC and can be accessed through a provided link. Similarly, another filing with the SEC reveals that Equinix’s CFO also sold 2,000 shares on August 30th at an average price of $790.41 per share for a total transaction amounting to $1,580,820. This brings Taylor’s current ownership to 20,177 shares valued at around $15,948,102.57.
Additionally, Chief Accounting Officer (CAO) Simon Miller also participated in selling Equinix stock on September 5th. Miller sold 523 shares at an average price of $766.77 per share for a total transaction value of $401,020.71. Following this transaction,Miler now directly holds 4,262 shares valued at approximately $3 ,267 ,973 .74.
The recent SEC filings indicate that corporate insiders have sold a total of 11,584 shares of Equinix stock, amounting to a value of $8,952,535 over the course of the last three months. These insider transactions equate to approximately 0.32% of the company’s stock.
Moreover, Equinix has recently announced its quarterly dividend payment scheduled for September 20th. Shareholders of record on August 23rd will receive a dividend payment of $3.41 per share. This quarterly dividend represents an annualized amount of $13.64 and yields approximately 1.76%. The ex-dividend date is recorded as August 22nd. Notably, Equinix’s payout ratio currently stands at 157.32%.
These recent developments and financial activities within Equinix provide investors and market observers with valuable insights into the company’s overall performance and fiscal decisions made by key management personnel such as executives and officers. As always, potential investors are encouraged to conduct thorough research and analysis before making any investment decisions based on this information or any other disclosed details pertaining to Equinix’s current situation.
Equinix, Inc.: Hedge Funds and Institutional Investors Show Interest as Stock Performs Consistently
Equinix, Inc. (EQIX) is a financial services provider that has recently attracted the attention of several hedge funds and institutional investors. Tanglewood Legacy Advisors LLC and Venturi Wealth Management LLC are among the investors who acquired new positions in the company during the first and fourth quarters respectively, each purchase totaling around $28,000. Massmutual Trust Co. FSB ADV and Quarry LP also increased their stakes in Equinix during the first quarter by purchasing additional shares worth $37,000 and $39,000 respectively. Furthermore, Heritage Wealth Management LLC saw a 100% increase in its stake after acquiring an additional 31 shares for $41,000 during the fourth quarter.
These investments have contributed to Equinix’s overall stock performance. On Monday, September 18th, EQIX stock opened at $776.22 per share. The company has shown consistent growth with a 50-day moving average of $781.86 and a two-hundred day moving average of $744.86. Equinix’s market capitalization stands at an impressive $72.63 billion, with a price-to-earnings ratio of 89.53 and a P/E/G ratio of 1.85 – indicating potential value for investors. Its beta is calculated at 0.65.
In recent news related to Equinix’s financials, Chief Financial Officer Keith D. Taylor sold 2,000 shares of the company’s stock on August 30th for an average price per share of $790.41, resulting in a total transaction value of $1,580,820. Following this sale, Taylor now holds 20,177 shares valued at approximately $15,948,102.57.
Cautionary measures taken against insider trading have been enforced as well; CAO Simon Miller sold 523 shares on September 5th at an average price of $766.77, amounting to a total transaction value of $401,020.71. Miller now holds 4,262 shares worth $3,267,973.74.
Equinix has received mixed ratings from research analysts. Bank of America raised its price target on the stock from $750.00 to $850.00 in June 2023. However, Oppenheimer later downgraded Equinix from an “outperform” rating to a “market perform” rating in the same period. JPMorgan Chase & Co., on the other hand, increased the price objective from $825.00 to $900.00 on August 4th.
Deutsche Bank Aktiengesellschaft also shows positive sentiment towards Equinix by raising their target price from $780.00 to $825.00 and assigning a “buy” rating in mid-August.
Contradicting these opinions, Truist Financial downgraded Equinix’s stock from “buy” to “hold,” and decreased their price target from $870 to $815 in late June 2023, citing valuation concerns as the reason for this action.
Overall, based on data gathered from Bloomberg.com and various research reports, Equinix currently holds a consensus rating of “Moderate Buy.” The company’s stock is anticipated to reach an average price target of approximately $814.57.
For investors seeking more analysis on Equinix’s recent performance and future prospects, further information can be found on our latest report on the company.