Massmutual Trust Co. FSB ADV Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

Massmutual Trust Co. FSB ADV lifted its position in shares of Equinix, Inc. (NASDAQ:EQIXFree Report) by 308.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 788 shares of the financial services provider’s stock after buying an additional 595 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Equinix were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EQIX. QRG Capital Management Inc. purchased a new stake in Equinix in the third quarter valued at approximately $726,000. LPL Financial LLC grew its holdings in Equinix by 17.1% in the third quarter. LPL Financial LLC now owns 24,081 shares of the financial services provider’s stock valued at $17,489,000 after purchasing an additional 3,520 shares during the period. Mariner LLC grew its holdings in Equinix by 4.0% in the third quarter. Mariner LLC now owns 64,264 shares of the financial services provider’s stock valued at $46,672,000 after purchasing an additional 2,454 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Equinix by 86.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 12,244 shares of the financial services provider’s stock valued at $8,892,000 after purchasing an additional 5,692 shares during the period. Finally, Rice Partnership LLC grew its holdings in Equinix by 24.0% in the third quarter. Rice Partnership LLC now owns 2,752 shares of the financial services provider’s stock valued at $1,999,000 after purchasing an additional 532 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

EQIX traded up $0.39 on Thursday, reaching $774.23. The company had a trading volume of 17,309 shares, compared to its average volume of 591,450. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $73.48 billion, a P/E ratio of 77.62, a PEG ratio of 2.70 and a beta of 0.68. The company has a fifty day moving average of $755.30 and a 200-day moving average of $802.91.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Tuesday, May 21st. Equinix’s payout ratio is 170.91%.

Wall Street Analyst Weigh In

EQIX has been the subject of several research reports. TD Cowen decreased their price objective on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Morgan Stanley reduced their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Stifel Nicolaus reissued a “buy” rating and set a $960.00 target price on shares of Equinix in a research report on Wednesday, March 13th. Barclays boosted their target price on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Truist Financial boosted their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $872.81.

Check Out Our Latest Report on Equinix

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares of the company’s stock, valued at $10,212,779. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Equinix Profile

(Free Report)

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.

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Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIXFree Report).

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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