Grove Bank & Trust Buys 14 Shares of Equinix, Inc. (NASDAQ:EQIX)

Grove Bank & Trust raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 186 shares of the financial services provider’s stock after acquiring an additional 14 shares during the period. Grove Bank & Trust’s holdings in Equinix were worth $165,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Cypress Capital Group boosted its position in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group boosted its holdings in Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after buying an additional 13 shares during the last quarter. Banco Santander S.A. grew its position in shares of Equinix by 2.0% during the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after buying an additional 14 shares during the period. Abbrea Capital LLC increased its stake in shares of Equinix by 5.5% in the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 14 shares during the last quarter. Finally, Quent Capital LLC raised its position in shares of Equinix by 5.9% in the 2nd quarter. Quent Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 15 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated 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 directly owns 9,094 shares in the company, valued at $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.6 %

Shares of NASDAQ:EQIX opened at $866.02 on Tuesday. The stock has a market cap of $82.19 billion, a PE ratio of 86.86, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The business has a 50 day moving average of $848.37 and a 200-day moving average of $795.27.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share 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 quarter last year, the firm earned $8.04 EPS. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.97%. Equinix’s dividend payout ratio is 170.91%.

Analyst Upgrades and Downgrades

EQIX has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group raised their price target on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $907.21.

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.