Hennion & Walsh Asset Management Inc. Raises Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Hennion & Walsh Asset Management Inc. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 36.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,336 shares of the financial services provider’s stock after acquiring an additional 355 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Equinix were worth $1,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQIX. CNB Bank lifted its position in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix in the 2nd quarter valued at about $30,000. LRI Investments LLC bought a new position in shares of Equinix in the 1st quarter valued at about $31,000. Meeder Asset Management Inc. purchased a new position in Equinix in the second quarter worth about $36,000. Finally, Sugarloaf Wealth Management LLC increased its stake in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Up 2.1 %

Shares of NASDAQ:EQIX opened at $914.33 on Friday. The business’s 50 day moving average is $861.56 and its 200 day moving average is $801.17. The stock has a market cap of $86.81 billion, a P/E 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. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’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. Sell-side analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a $4.26 dividend. 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 currently 156.04%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. TD Cowen increased their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group increased their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $918.40.

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.