Financial Advocates Investment Management Boosts Holdings in Equinix, Inc. (NASDAQ:EQIX)

Financial Advocates Investment Management lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 943 shares of the financial services provider’s stock after purchasing an additional 89 shares during the period. Financial Advocates Investment Management’s holdings in Equinix were worth $889,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after acquiring an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after purchasing an additional 398,494 shares during the period. Adelante Capital Management LLC raised its position in Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares during the period. Finally, abrdn plc boosted its stake in shares of Equinix by 49.2% in the 4th quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock valued at $437,563,000 after buying an additional 153,215 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $933.27 on Friday. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The stock has a market capitalization of $90.05 billion, a price-to-earnings ratio of 84.15, a PEG ratio of 2.18 and a beta of 0.72. The company has a 50-day simple moving average of $939.33 and a 200-day simple moving average of $889.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EQIX shares. Truist Financial raised their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. Royal Bank of Canada raised their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Scotiabank increased their target price on Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a report on Thursday, January 23rd. Stifel Nicolaus raised their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets upped their price objective on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $996.06.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company’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 transaction, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 16,801 shares of company stock valued at $15,530,564 in the last ninety days. 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.