Summit Global Investments Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Summit Global Investments grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 14.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 316 shares of the financial services provider’s stock after purchasing an additional 40 shares during the period. Summit Global Investments’ holdings in Equinix were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Balentine LLC grew its stake in Equinix by 0.8% in the 3rd quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after acquiring an additional 14 shares during the last quarter. Sage Mountain Advisors LLC raised its position in shares of Equinix by 3.9% during the 4th quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 14 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Equinix by 0.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock valued at $2,021,000 after buying an additional 15 shares during the last quarter. Legacy Advisors LLC increased its position in Equinix by 1.6% during the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock worth $679,000 after buying an additional 15 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV raised its holdings in shares of Equinix by 0.8% in the third quarter. Arbor Capital Management Inc. ADV now owns 1,964 shares of the financial services provider’s stock worth $1,396,000 after acquiring an additional 16 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $693.73 on Tuesday. The stock’s 50 day moving average price is $803.68 and its 200 day moving average price is $802.05. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $65.64 billion, a price-to-earnings ratio of 67.29, a PEG ratio of 1.81 and a beta of 0.62. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.46%. Equinix’s dividend payout ratio is currently 165.28%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EQIX shares. Oppenheimer raised their price target on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Wells Fargo & Company increased their price target on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Truist Financial upped their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Barclays lowered their price target on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, Morgan Stanley decreased their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $870.44.

Insider Buying and Selling

In other news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the sale, the chief financial officer now owns 23,187 shares in the company, valued at approximately $19,314,307.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles J. Meyers sold 2,110 shares of Equinix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the transaction, the chief executive officer now owns 10,115 shares in the company, valued at $8,422,659.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the sale, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,585 shares of company stock valued at $3,818,268 over the last three months. Company 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.