First Horizon Advisors Inc. Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

First Horizon Advisors Inc. increased its position in Equinix, Inc. (NASDAQ:EQIX) by 76.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90 shares of the financial services provider’s stock after purchasing an additional 39 shares during the quarter. First Horizon Advisors Inc.’s holdings in Equinix were worth $80,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Equinix by 19.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,691 shares of the financial services provider’s stock valued at $4,164,000 after purchasing an additional 774 shares in the last quarter. NS Partners Ltd raised its stake in Equinix by 1.9% in the third quarter. NS Partners Ltd now owns 31,234 shares of the financial services provider’s stock worth $27,724,000 after buying an additional 583 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Equinix during the third quarter worth $227,000. PNC Financial Services Group Inc. boosted its position in Equinix by 4.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,168 shares of the financial services provider’s stock valued at $11,688,000 after acquiring an additional 531 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Equinix in the 3rd quarter valued at $8,160,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their target price for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. JPMorgan Chase & Co. upped 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. Finally, Wells Fargo & Company raised their price objective on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $952.88.

Equinix Stock Performance

Equinix stock opened at $936.37 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $90.35 billion, a price-to-earnings ratio of 84.43, a PEG ratio of 2.38 and a beta of 0.71. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The stock has a fifty day moving average of $891.74 and a two-hundred day moving average of $826.40.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.82%. Equinix’s payout ratio is 153.65%.

Insider Buying and Selling

In other news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. This trade represents a 99.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,754 shares of company stock valued at $11,666,756. 0.27% of the stock is currently 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.