Graypoint LLC Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Graypoint LLC raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 491 shares of the financial services provider’s stock after buying an additional 21 shares during the period. Graypoint LLC’s holdings in Equinix were worth $395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Perigon Wealth Management LLC boosted its holdings in Equinix by 7.2% in the fourth quarter. Perigon Wealth Management LLC now owns 892 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 60 shares during the period. Sapient Capital LLC purchased a new stake in shares of Equinix during the 4th quarter worth approximately $206,000. Cerity Partners LLC boosted its stake in shares of Equinix by 63.0% during the 4th quarter. Cerity Partners LLC now owns 3,242 shares of the financial services provider’s stock worth $2,611,000 after acquiring an additional 1,253 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Equinix by 30.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 639 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 149 shares in the last quarter. Finally, Quaero Capital S.A. purchased a new stake in shares of Equinix during the 4th quarter worth approximately $1,691,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jonathan Lin sold 624 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $809.66, for a total value of $505,227.84. Following the sale, the executive vice president now owns 5,671 shares in the company, valued at approximately $4,591,581.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Jonathan Lin sold 624 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $809.66, for a total transaction of $505,227.84. Following the sale, the executive vice president now owns 5,671 shares in the company, valued at $4,591,581.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Crenshaw sold 460 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total transaction of $383,166.20. Following the sale, the executive vice president now owns 1,242 shares in the company, valued at approximately $1,034,548.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,282 shares of company stock worth $14,788,771. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $960.00 price objective on shares of Equinix in a research report on Wednesday, March 13th. Morgan Stanley cut their price target on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Truist Financial boosted their price target on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $868.72.

Equinix Stock Performance

NASDAQ:EQIX opened at $764.05 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a 50-day moving average of $844.04 and a two-hundred day moving average of $801.95. The stock has a market cap of $72.29 billion, a P/E ratio of 74.11, a PEG ratio of 1.82 and a beta of 0.58. Equinix, Inc. has a 1-year low of $672.88 and a 1-year high of $914.93.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.23%. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

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.