Fred Alger Management LLC Acquires 40,823 Shares of Equinix, Inc. (NASDAQ:EQIX)

Fred Alger Management LLC lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 28.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,926 shares of the financial services provider’s stock after purchasing an additional 40,823 shares during the period. Equinix comprises about 0.8% of Fred Alger Management LLC’s investment portfolio, making the stock its 24th largest position. Fred Alger Management LLC owned 0.19% of Equinix worth $164,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in Equinix in the first quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix in the 2nd quarter worth $30,000. GHP Investment Advisors Inc. lifted its stake 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 purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its position 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 in the last quarter. Finally, Sugarloaf Wealth Management LLC grew its stake in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Barclays lifted their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Evercore ISI increased their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong 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 $952.88.

Equinix Stock Up 0.1 %

Shares of EQIX opened at $979.10 on Friday. The stock’s 50-day moving average price is $900.50 and its 200-day moving average price is $831.45. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $94.47 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 2.52 and a beta of 0.71. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.74%. Equinix’s payout ratio is 153.65%.

Insider Buying and Selling at Equinix

In related news, insider Michael Earl Campbell sold 600 shares of Equinix stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $816.73, for a total value of $490,038.00. Following the sale, the insider now directly owns 14,800 shares in the company, valued at approximately $12,087,604. The trade was a 3.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,754 shares of company stock valued at $11,666,756. Corporate insiders own 0.27% of the company’s stock.

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.