Van ECK Associates Corp Acquires 2,614 Shares of Equinix, Inc. (NASDAQ:EQIX)

Van ECK Associates Corp lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 17.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,299 shares of the financial services provider’s stock after purchasing an additional 2,614 shares during the quarter. Van ECK Associates Corp’s holdings in Equinix were worth $13,932,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Adell Harriman & Carpenter Inc. lifted its stake in Equinix by 1.8% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 18,852 shares of the financial services provider’s stock valued at $15,183,000 after buying an additional 329 shares in the last quarter. Naviter Wealth LLC lifted its position in Equinix by 23.4% in the 4th quarter. Naviter Wealth LLC now owns 6,603 shares of the financial services provider’s stock valued at $5,318,000 after acquiring an additional 1,251 shares in the last quarter. Blue Chip Partners LLC boosted its stake in Equinix by 3.4% in the 4th quarter. Blue Chip Partners LLC now owns 11,426 shares of the financial services provider’s stock worth $9,202,000 after purchasing an additional 381 shares during the period. Paradigm Financial Partners LLC increased its holdings in Equinix by 5.6% during the 4th quarter. Paradigm Financial Partners LLC now owns 3,841 shares of the financial services provider’s stock worth $3,094,000 after purchasing an additional 204 shares in the last quarter. Finally, PGGM Investments raised its stake in shares of Equinix by 4.4% in the 4th quarter. PGGM Investments now owns 265,852 shares of the financial services provider’s stock valued at $214,115,000 after purchasing an additional 11,300 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In other Equinix news, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Equinix news, EVP Scott Crenshaw sold 460 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,585 shares of company stock worth $3,818,268. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $695.33 on Thursday. 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 business’s 50 day moving average price is $814.64 and its two-hundred day moving average price is $802.31. The company has a market cap of $65.79 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 1.83 and a beta of 0.62. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Tuesday, February 27th. Equinix’s payout ratio is presently 165.28%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. 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. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a report on Wednesday, March 20th. BMO Capital Markets increased their target price on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, Morgan Stanley lowered their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $862.50.

Equinix 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.