Miracle Mile Advisors LLC Has $11.05 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Miracle Mile Advisors LLC decreased its position in Equinix, Inc. (NASDAQ:EQIXGet Rating) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,812 shares of the financial services provider’s stock after selling 197 shares during the period. Miracle Mile Advisors LLC’s holdings in Equinix were worth $11,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EQIX. Vanguard Group Inc. raised its holdings in shares of Equinix by 2.0% during the first quarter. Vanguard Group Inc. now owns 11,930,683 shares of the financial services provider’s stock valued at $8,848,034,000 after purchasing an additional 228,639 shares during the period. BlackRock Inc. raised its holdings in shares of Equinix by 5.2% during the fourth quarter. BlackRock Inc. now owns 8,928,856 shares of the financial services provider’s stock valued at $7,552,383,000 after purchasing an additional 441,521 shares during the period. State Street Corp raised its holdings in shares of Equinix by 8.7% during the first quarter. State Street Corp now owns 5,377,560 shares of the financial services provider’s stock valued at $3,988,106,000 after purchasing an additional 430,704 shares during the period. Capital International Investors raised its holdings in shares of Equinix by 2.9% during the fourth quarter. Capital International Investors now owns 2,575,828 shares of the financial services provider’s stock valued at $2,178,713,000 after purchasing an additional 72,775 shares during the period. Finally, APG Asset Management US Inc. raised its holdings in shares of Equinix by 3.8% during the first quarter. APG Asset Management US Inc. now owns 1,578,302 shares of the financial services provider’s stock valued at $1,170,500,000 after purchasing an additional 58,502 shares during the period. Institutional investors and hedge funds own 93.82% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $597.93 on Friday. The stock has a market capitalization of $54.45 billion, a P/E ratio of 86.67, a PEG ratio of 2.64 and a beta of 0.49. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.38. The firm’s 50 day moving average is $663.36 and its 200 day moving average is $682.54. Equinix, Inc. has a 12 month low of $606.12 and a 12 month high of $868.82.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 17th were paid a dividend of $3.10 per share. This represents a $12.40 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, August 16th. Equinix’s payout ratio is currently 176.39%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 3,356 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total value of $2,383,263.40. Following the sale, the insider now directly owns 17,284 shares in the company, valued at approximately $12,274,232.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brandi Galvin Morandi sold 3,356 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total transaction of $2,383,263.40. Following the sale, the insider now owns 17,284 shares in the company, valued at approximately $12,274,232.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles J. Meyers sold 377 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $650.00, for a total transaction of $245,050.00. Following the sale, the chief executive officer now owns 7,439 shares in the company, valued at approximately $4,835,350. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,808 shares of company stock worth $3,394,370. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EQIX shares. Oppenheimer upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $750.00 target price on the stock in a report on Thursday, July 28th. TheStreet lowered shares of Equinix from a “b-” rating to a “c+” rating in a report on Monday, June 13th. William Blair restated an “outperform” rating on shares of Equinix in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Equinix from $785.00 to $750.00 in a research report on Thursday, July 28th. Finally, Credit Suisse Group reduced their price objective on shares of Equinix from $718.00 to $716.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $809.50.

Equinix Profile

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Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

See Also

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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