Equinix, Inc. $EQIX Stock Position Raised by Candriam S.C.A.

Candriam S.C.A. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 95.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,128 shares of the financial services provider’s stock after buying an additional 41,159 shares during the quarter. Candriam S.C.A. owned approximately 0.09% of Equinix worth $65,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. RFG Advisory LLC bought a new position in Equinix during the third quarter valued at approximately $210,000. Azzad Asset Management Inc. ADV increased its stake in shares of Equinix by 6.1% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 4,891 shares of the financial services provider’s stock worth $3,831,000 after purchasing an additional 281 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Equinix by 19.8% during the 3rd quarter. Alps Advisors Inc. now owns 1,484 shares of the financial services provider’s stock valued at $1,162,000 after purchasing an additional 245 shares in the last quarter. Guinness Asset Management LTD bought a new position in shares of Equinix during the 3rd quarter valued at $71,000. Finally, First Fiduciary Investment Counsel Inc. lifted its stake in shares of Equinix by 7.9% in the 3rd quarter. First Fiduciary Investment Counsel Inc. now owns 17,942 shares of the financial services provider’s stock valued at $14,053,000 after purchasing an additional 1,307 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Up 5.0%

EQIX opened at $848.12 on Monday. The business has a 50 day moving average of $775.97 and a 200-day moving average of $785.91. The stock has a market capitalization of $83.28 billion, a price-to-earnings ratio of 77.67, a P/E/G ratio of 1.32 and a beta of 1.06. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $953.41.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EQIX shares. Daiwa Securities Group set a $917.00 target price on shares of Equinix and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Equinix in a report on Thursday, January 22nd. Truist Financial increased their price target on Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, HSBC set a $1,050.00 target price on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $959.64.

Insider Transactions at Equinix

In other Equinix news, CFO Keith D. Taylor sold 2,051 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.17, for a total value of $1,649,352.67. Following the sale, the chief financial officer directly owned 26,373 shares in the company, valued at $21,208,375.41. This trade represents a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Shane Paladin sold 327 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.36, for a total transaction of $263,025.72. Following the completion of the sale, the insider owned 952 shares of the company’s stock, valued at approximately $765,750.72. The trade was a 25.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 19,490 shares of company stock worth $15,281,999. 0.27% of the stock is currently owned by insiders.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.