Great Lakes Retirement Inc. Purchases 2,610 Shares of Equinix, Inc. $EQIX

Great Lakes Retirement Inc. purchased a new position in Equinix, Inc. (NASDAQ:EQIX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,610 shares of the financial services provider’s stock, valued at approximately $2,640,000.

A number of other institutional investors have also recently made changes to their positions in EQIX. BlackRock Inc. bought a new position in Equinix in the 2nd quarter valued at approximately $11,930,074,000. Principal Financial Group Inc. raised its stake in shares of Equinix by 1.4% in the first quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock worth $1,941,377,000 after purchasing an additional 27,643 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equinix by 26,831.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock valued at $1,291,648,000 after purchasing an additional 1,234,521 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Equinix during the second quarter valued at $1,181,260,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Equinix during the second quarter valued at $1,163,662,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EQIX. BNP Paribas Exane decreased their target price on Equinix from $1,222.00 to $1,219.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. HSBC decreased their price objective on shares of Equinix from $1,400.00 to $1,380.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Barclays increased their price objective on shares of Equinix from $1,130.00 to $1,135.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 8th. Cantor Fitzgerald raised their target price on shares of Equinix from $1,186.00 to $1,211.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada lifted their target price on shares of Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $1,215.68.

Equinix Trading Up 3.3%

Shares of NASDAQ:EQIX opened at $999.38 on Wednesday. The firm’s 50 day moving average price is $1,026.01 and its 200-day moving average price is $1,004.44. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.73 by $7.05. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the previous year, the business posted $9.91 EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, analysts predict that Equinix, Inc. will post 38.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Equinix news, insider Michael Paladin sold 307 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total value of $317,748.07. Following the transaction, the insider directly owned 2,450 shares in the company, valued at approximately $2,535,774.50. This trade represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher Paisley sold 4,000 shares of Equinix stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,019.28, for a total transaction of $4,077,120.00. Following the transaction, the director owned 13,859 shares in the company, valued at $14,126,201.52. This represents a 22.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,770 shares of company stock worth $4,884,197. Company insiders own 0.27% of the company’s stock.

Equinix Profile

Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.

The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.