International Assets Investment Management LLC Invests $67.70 Million in Equinix, Inc. (NASDAQ:EQIX)

International Assets Investment Management LLC purchased a new stake in Equinix, Inc. (NASDAQ:EQIX) during the third quarter, according to its most recent filing with the SEC. The firm purchased 76,270 shares of the financial services provider’s stock, valued at approximately $67,700,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares during the period. Principal Financial Group Inc. increased its position in shares of Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after buying an additional 238,883 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after buying an additional 47,795 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after acquiring an additional 19,844 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its stake in Equinix by 13.5% in the first quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock valued at $778,332,000 after acquiring an additional 112,194 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $914.33 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a 50 day moving average price of $861.56 and a 200 day moving average price of $801.17. The stock has a market capitalization of $86.81 billion, a PE ratio of 83.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $8.04 EPS. Analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. Equinix’s dividend payout ratio is presently 156.04%.

Analyst Upgrades and Downgrades

EQIX has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company increased their price objective on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. 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. 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, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $918.40.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by company insiders.

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.