Quarry LP Increases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Quarry LP increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 124.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128 shares of the financial services provider’s stock after buying an additional 71 shares during the period. Quarry LP’s holdings in Equinix were worth $97,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Duff & Phelps Investment Management Co. lifted its holdings in shares of Equinix by 25.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after purchasing an additional 75,888 shares in the last quarter. Cim Investment Management Inc. lifted its stake in Equinix by 73.2% in the 2nd quarter. Cim Investment Management Inc. now owns 2,795 shares of the financial services provider’s stock valued at $2,115,000 after buying an additional 1,181 shares in the last quarter. Ninepoint Partners LP grew its holdings in Equinix by 37.1% during the 2nd quarter. Ninepoint Partners LP now owns 2,006 shares of the financial services provider’s stock valued at $1,518,000 after buying an additional 543 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its position in Equinix by 1,986.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 18,782 shares of the financial services provider’s stock worth $14,210,000 after buying an additional 17,882 shares in the last quarter. Finally, Scientech Research LLC acquired a new position in shares of Equinix in the second quarter worth $1,845,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of analyst reports. TD Cowen increased their price objective on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Mizuho raised their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $897.13.

Equinix Stock Down 0.5 %

Shares of NASDAQ:EQIX opened at $883.00 on Wednesday. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The stock has a 50-day simple moving average of $832.18 and a 200-day simple moving average of $791.81. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $83.80 billion, a P/E ratio of 88.57, a PEG ratio of 2.15 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released 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). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $8.04 EPS. Equinix’s revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is currently owned by corporate insiders.

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.