Victory Capital Management Inc. Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Victory Capital Management Inc. grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 14.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,651 shares of the financial services provider’s stock after acquiring an additional 5,786 shares during the period. Victory Capital Management Inc.’s holdings in Equinix were worth $39,634,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BDF Gestion purchased a new stake in Equinix during the 2nd quarter worth $2,659,000. Van ECK Associates Corp increased its stake in Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after buying an additional 1,716 shares during the period. Bessemer Group Inc. increased its stake in Equinix by 159.4% during the 1st quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after buying an additional 1,380 shares during the period. E. Ohman J or Asset Management AB increased its stake in Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after buying an additional 1,103 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its stake in Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after buying an additional 75,888 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 0.1 %

Equinix stock opened at $897.37 on Friday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The firm has a market capitalization of $86.59 billion, a price-to-earnings ratio of 80.92, a PEG ratio of 2.26 and a beta of 0.71. The firm has a 50-day moving average price of $883.98 and a two-hundred day moving average price of $815.75. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insiders Place Their Bets

In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares in the company, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,654 shares of company stock worth $11,577,656. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EQIX has been the topic of several analyst reports. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Mizuho boosted their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Finally, TD Cowen boosted their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $944.63.

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.