WESPAC Advisors SoCal LLC Purchases New Stake in Equinix, Inc. (NASDAQ:EQIX)

WESPAC Advisors SoCal LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 970 shares of the financial services provider’s stock, valued at approximately $861,000.

Several other hedge funds have also recently bought and sold shares of EQIX. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in Equinix in the first quarter valued at about $31,000. GHP Investment Advisors Inc. raised its stake in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Equinix in the 2nd quarter valued at approximately $36,000. 94.94% of the stock is owned by institutional investors.

Equinix Stock Down 0.1 %

Shares of NASDAQ EQIX opened at $897.37 on Friday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $86.59 billion, a PE ratio of 80.92, a P/E/G ratio of 2.26 and a beta of 0.71. The company’s fifty day simple moving average is $885.56 and its 200 day simple moving average is $817.67.

Equinix Announces Dividend

The company 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. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Buying and Selling at Equinix

In related news, EVP Jonathan Lin sold 93 shares of the company’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 sale, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the transaction, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,654 shares of company stock valued at $11,577,656. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of several research reports. TD Cowen increased their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.63.

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.