Geode Capital Management LLC Has $2.08 Billion Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Geode Capital Management LLC lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,350,508 shares of the financial services provider’s stock after purchasing an additional 33,277 shares during the period. Geode Capital Management LLC’s holdings in Equinix were worth $2,079,591,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EQIX. GHP Investment Advisors Inc. grew its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC grew its holdings in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Meeder Asset Management Inc. bought a new stake in Equinix in the second quarter valued at approximately $36,000. Sugarloaf Wealth Management LLC raised its holdings in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 20 shares during the period. Finally, Dunhill Financial LLC boosted its position in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total value 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 represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock worth $7,906,218 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. TD Cowen lifted their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lifted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Barclays increased their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $962.56.

Equinix Price Performance

NASDAQ:EQIX opened at $968.98 on Tuesday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a market cap of $93.50 billion, a P/E ratio of 87.37, a P/E/G ratio of 2.54 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50-day simple moving average is $912.85 and its 200 day simple moving average is $840.99.

Equinix Announces Dividend

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. This represents a $17.04 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Equinix Company 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.