Meeder Advisory Services Inc. Purchases 526 Shares of Equinix, Inc. (NASDAQ:EQIX)

Meeder Advisory Services Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 33.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,083 shares of the financial services provider’s stock after acquiring an additional 526 shares during the period. Meeder Advisory Services Inc.’s holdings in Equinix were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in Equinix by 0.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after acquiring an additional 1,159 shares during the period. Pinebridge Investments L.P. bought a new position in shares of Equinix in the 4th quarter worth $3,724,000. Global Assets Advisory LLC bought a new position in shares of Equinix in the 1st quarter worth $15,187,000. Schroder Investment Management Group increased its holdings in shares of Equinix by 0.6% in the 4th quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after buying an additional 1,547 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Equinix by 48.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after buying an additional 2,133 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Royal Bank of Canada decreased their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Mizuho increased their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen increased their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Truist Financial increased their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock valued at $8,282,119 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.3 %

EQIX opened at $871.54 on Friday. The firm has a market capitalization of $82.74 billion, a price-to-earnings ratio of 87.42, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The business has a 50 day simple moving average of $811.47 and a two-hundred day simple moving average of $794.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the business earned $8.04 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s payout ratio is presently 170.91%.

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.