Heritage Investors Management Corp Grows Stock Position in Equinix, Inc. $EQIX

Heritage Investors Management Corp increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 30,002 shares of the financial services provider’s stock after acquiring an additional 919 shares during the period. Heritage Investors Management Corp’s holdings in Equinix were worth $23,499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Westside Investment Management Inc. increased its position in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in Equinix during the second quarter worth about $26,000. Bank of Jackson Hole Trust increased its position in shares of Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Abound Wealth Management raised its stake in shares of Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Equinix in the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EQIX. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price on the stock in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft set a $915.00 target price on Equinix in a research note on Tuesday, January 6th. Scotiabank dropped their target price on Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 14th. Finally, Truist Financial increased their price target on shares of Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $959.64.

Equinix Trading Down 1.3%

EQIX opened at $810.38 on Tuesday. The business has a fifty day moving average price of $770.83 and a 200 day moving average price of $785.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $953.41. The stock has a market capitalization of $79.57 billion, a price-to-earnings ratio of 74.21, a PEG ratio of 1.28 and a beta of 1.06.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,087 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $778.47, for a total value of $3,960,076.89. Following the sale, the chairman directly owned 10,426 shares of the company’s stock, valued at approximately $8,116,328.22. This represents a 32.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Raouf Abdel sold 927 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the sale, the executive vice president owned 7,337 shares in the company, valued at $5,882,659.86. The trade was a 11.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 19,490 shares of company stock valued at $15,281,999. 0.27% of the stock is currently owned by company insiders.

About Equinix

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.