Grandfield & Dodd LLC Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Grandfield & Dodd LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 262 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQIX. Bessemer Group Inc. boosted its stake in Equinix by 159.4% in the 1st quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock valued at $1,854,000 after purchasing an additional 1,380 shares during the period. Pitcairn Co. increased its holdings in Equinix by 13.5% in the 1st quarter. Pitcairn Co. now owns 344 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 41 shares in the last quarter. EntryPoint Capital LLC increased its holdings in Equinix by 234.8% in the 1st quarter. EntryPoint Capital LLC now owns 77 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 54 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Equinix by 37.7% in the first quarter. Advisors Asset Management Inc. now owns 3,100 shares of the financial services provider’s stock valued at $2,559,000 after buying an additional 849 shares during the period. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Equinix in the first quarter valued at about $1,352,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. TD Cowen boosted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

Equinix Price Performance

EQIX opened at $918.94 on Thursday. The company has a market cap of $88.67 billion, a P/E ratio of 82.86, a P/E/G ratio of 2.25 and a beta of 0.71. The company has a 50 day moving average of $889.31 and a two-hundred day moving average of $822.27. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.85%. Equinix’s dividend payout ratio is presently 153.65%.

Insider Activity at Equinix

In related news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The trade was a 99.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares in the company, valued at $15,854,454. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock worth $11,666,756 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.