ProShare Advisors LLC Acquires 1,470 Shares of Equinix, Inc. $EQIX

ProShare Advisors LLC boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,646 shares of the financial services provider’s stock after acquiring an additional 1,470 shares during the quarter. ProShare Advisors LLC’s holdings in Equinix were worth $16,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQIX. Vanguard Group Inc. lifted its position in shares of Equinix by 1.7% during the second quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after purchasing an additional 222,221 shares in the last quarter. State Street Corp raised its position in Equinix by 3.7% in the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after purchasing an additional 220,981 shares during the last quarter. Principal Financial Group Inc. raised its position in Equinix by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock worth $1,542,595,000 after purchasing an additional 56,592 shares during the last quarter. Norges Bank acquired a new position in Equinix during the 2nd quarter worth $892,431,000. Finally, Canada Pension Plan Investment Board boosted its position in Equinix by 3.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,102,423 shares of the financial services provider’s stock valued at $876,944,000 after buying an additional 38,936 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 1,333 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.25, for a total value of $1,072,065.25. Following the completion of the transaction, the insider owned 9,551 shares of the company’s stock, valued at $7,681,391.75. The trade was a 12.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the sale, the chief financial officer owned 26,373 shares of the company’s stock, valued at approximately $21,208,375.41. This represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,490 shares of company stock worth $15,281,999 over the last ninety days. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EQIX has been the subject of a number of recent research reports. Daiwa Securities Group set a $917.00 target price on Equinix and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Zacks Research cut Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Scotiabank cut their target price on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 14th. HSBC set a $1,050.00 target price on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target for the company. in a research note on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $959.64.

Equinix Price Performance

Equinix stock opened at $856.74 on Wednesday. The firm has a market capitalization of $84.12 billion, a P/E ratio of 78.46, a PEG ratio of 1.34 and a beta of 1.06. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $953.41. The business has a 50-day moving average of $781.06 and a 200-day moving average of $786.78. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.