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

ProShare Advisors LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of EQIX. Westside Investment Management Inc. grew its position in Equinix by 190.9% in the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Equinix in the second quarter valued at about $26,000. Bank of Jackson Hole Trust grew its position in Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Abound Wealth Management increased its stake in Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Equinix in the 2nd quarter valued at approximately $28,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 5,087 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $778.47, for a total value of $3,960,076.89. Following the transaction, the chairman directly owned 10,426 shares of the company’s stock, valued at $8,116,328.22. The trade was a 32.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 1,333 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.25, for a total value of $1,072,065.25. Following the sale, the insider owned 9,551 shares in the company, valued at approximately $7,681,391.75. This trade represents a 12.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 19,490 shares of company stock valued at $15,281,999. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group lowered Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft set a $915.00 target price on Equinix in a research report on Tuesday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen downgraded shares of Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $959.64.

Equinix Stock Down 0.1%

EQIX opened at $856.74 on Wednesday. The firm’s 50-day simple moving average is $781.06 and its 200-day simple moving average is $786.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $953.41. The firm has a market cap of $84.12 billion, a price-to-earnings ratio of 78.46, a PEG ratio of 1.34 and a beta of 1.06.

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.