Verdence Capital Advisors LLC Purchases 1,410 Shares of Equinix, Inc. $EQIX

Verdence Capital Advisors LLC grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 250.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,973 shares of the financial services provider’s stock after buying an additional 1,410 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Equinix were worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Miller Howard Investments Inc. NY boosted its holdings in shares of Equinix by 2.1% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 9,648 shares of the financial services provider’s stock worth $9,759,000 after acquiring an additional 196 shares in the last quarter. Peterson Wealth Services bought a new stake in Equinix during the 3rd quarter worth approximately $1,231,000. Sigma Planning Corp grew its position in Equinix by 5.6% during the 3rd quarter. Sigma Planning Corp now owns 732 shares of the financial services provider’s stock worth $740,000 after acquiring an additional 39 shares during the last quarter. BG Investment Services LLC acquired a new stake in Equinix during the 3rd quarter valued at $2,565,000. Finally, Simplicity Wealth LLC increased its holdings in Equinix by 28.5% during the 3rd quarter. Simplicity Wealth LLC now owns 581 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EQIX shares. The Goldman Sachs Group lifted their price objective on Equinix from $1,015.00 to $1,060.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Sanford C. Bernstein boosted their price objective on Equinix from $1,222.00 to $1,270.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. HSBC decreased their target price on Equinix from $1,400.00 to $1,380.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. BTIG Research raised their target price on Equinix from $1,210.00 to $1,240.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Finally, Weiss Ratings upgraded Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,215.68.

Insider Buying and Selling

In other Equinix news, insider Kurt Pletcher sold 135 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the transaction, the insider directly owned 4,077 shares in the company, valued at approximately $4,384,813.50. This trade represents a 3.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of Equinix stock in a transaction on Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total value of $317,748.07. Following the completion of the sale, the insider directly owned 2,450 shares of the company’s stock, valued at $2,535,774.50. This trade represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,770 shares of company stock worth $4,884,197 in the last quarter. Insiders own 0.27% of the company’s stock.

Equinix Trading Up 3.3%

Shares of EQIX stock opened at $999.38 on Wednesday. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The firm’s 50 day moving average is $1,026.01 and its 200-day moving average is $1,004.44.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, beating the consensus estimate of $4.73 by $7.05. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equinix’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $9.91 earnings per share. Equities research analysts anticipate that Equinix, Inc. will post 38.23 earnings per share for the current fiscal year.

About Equinix

Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.

The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.