GAMMA Investing LLC Buys New Stake in Equinix, Inc. (NASDAQ:EQIX)

GAMMA Investing LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 534 shares of the financial services provider’s stock, valued at approximately $443,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Vanguard Group Inc. boosted its stake in shares of Equinix by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock worth $8,883,018,000 after acquiring an additional 34,926 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Equinix by 44.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock worth $1,015,610,000 after acquiring an additional 431,435 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Equinix by 1.7% during the 3rd quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock worth $862,790,000 after acquiring an additional 20,241 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Equinix by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 974,403 shares of the financial services provider’s stock worth $707,670,000 after acquiring an additional 35,333 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Equinix by 4.8% during the 3rd quarter. Morgan Stanley now owns 940,617 shares of the financial services provider’s stock worth $683,134,000 after acquiring an additional 43,143 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the transaction, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the transaction, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles J. Meyers sold 2,110 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the completion of the transaction, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,585 shares of company stock valued at $3,818,268. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EQIX shares. Stifel Nicolaus restated a “buy” rating and set a $960.00 price target on shares of Equinix in a research report on Wednesday, March 13th. Oppenheimer upped their price target on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Royal Bank of Canada upped their price target on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Truist Financial upped their price target on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $862.50.

Equinix Trading Down 0.8 %

Shares of Equinix stock traded down $5.90 during mid-day trading on Wednesday, hitting $756.00. The stock had a trading volume of 430,788 shares, compared to its average volume of 560,782. The firm has a 50-day moving average of $830.25 and a two-hundred day moving average of $803.39. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a market cap of $71.53 billion, a P/E ratio of 73.90, a price-to-earnings-growth ratio of 1.95 and a beta of 0.58.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.25%. Equinix’s payout ratio is currently 165.28%.

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.