Tyche Wealth Partners LLC Takes $571,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Tyche Wealth Partners LLC acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 606 shares of the financial services provider’s stock, valued at approximately $571,000.

Several other large investors also recently made changes to their positions in the business. State Street Corp increased its position in shares of Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after acquiring an additional 81,941 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after acquiring an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after acquiring an additional 53,729 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $938.34 on Friday. 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 stock has a market capitalization of $90.54 billion, a PE ratio of 84.61, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The company has a 50 day moving average price of $940.14 and a two-hundred day moving average price of $889.47. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Monday, November 18th. The stock was 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 of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. BMO Capital Markets lifted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial boosted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Wells Fargo & Company lowered their price objective on shares of Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Evercore ISI boosted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $996.06.

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.