Harrell Investment Partners LLC Takes $1.64 Million Position in Equinix, Inc. $EQIX

Harrell Investment Partners LLC acquired a new position in Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,576 shares of the financial services provider’s stock, valued at approximately $1,643,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avion Wealth increased its holdings in Equinix by 73.3% during the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock valued at $25,000 after buying an additional 11 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Equinix by 166.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 15 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Equinix during the 4th quarter valued at $30,000. Physician Wealth Advisors Inc. grew its position in shares of Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 24 shares during the period. Finally, WPG Advisers LLC increased its stake in shares of Equinix by 51.7% in the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 4,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total transaction of $4,077,120.00. Following the completion of the transaction, the director owned 13,859 shares in the company, valued at approximately $14,126,201.52. This represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 2,040 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the transaction, the executive vice president directly owned 5,728 shares of the company’s stock, valued at $6,206,116.16. The trade was a 26.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,891 shares of company stock valued at $10,430,452. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Up 0.1%

NASDAQ EQIX opened at $1,043.38 on Tuesday. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. The stock has a market cap of $102.95 billion, a PE ratio of 67.18, a P/E/G ratio of 1.48 and a beta of 0.99. The stock’s 50 day moving average is $1,050.53 and its 200 day moving average is $1,006.96.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be given a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix’s dividend payout ratio (DPR) is presently 132.90%.

Analyst Ratings Changes

A number of brokerages recently commented on EQIX. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,270.00 target price on shares of Equinix in a report on Monday, August 3rd. Stifel Nicolaus upped their price target on Equinix from $1,250.00 to $1,265.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings raised Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Royal Bank Of Canada lifted their price objective on Equinix from $1,125.00 to $1,225.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Evercore reiterated an “outperform” rating and set a $1,240.00 price objective on shares of Equinix in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,196.20.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.