Fortitude Family Office LLC Increases Holdings in Equinix, Inc.

Fortitude Family Office LLC has boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 50.0% during the third quarter, according to reports from Holdings Channel.com. The firm now owns 39 shares of Equinix after purchasing an additional 13 shares. This investment is valued at approximately $35,000 based on its most recent filings with the Securities and Exchange Commission.

Moreover, several other institutional investors have also adjusted their positions in Equinix. For instance, abrdn plc raised its holdings by 10.4% during the same period, owning a total of 311,625 shares valued at around $276.78 million after acquiring an additional 29,231 shares. Worth Financial Advisory Group LLC also increased its stake by 14.1%, now holding 778 shares valued at $691,000 after adding 96 shares to its portfolio. Vanderbilt University lifted its holdings by 10.1%, owning 8,857 shares worth approximately $7.86 million after acquiring 816 shares. Smithbridge Asset Management Inc. DE significantly increased its stake by 85.0%, now owning 1,349 shares valued at $1.2 million, following a purchase of 620 shares. Sun Life Financial Inc. made a new investment in Equinix valued at around $9.99 million. Currently, institutional investors control about 94.94% of the company's stock.

Analysts' Predictions

Recent analyst reports on Equinix shares have been optimistic. For example, HSBC upgraded Equinix from a “hold” to a “buy” rating, raising the price target from $865.00 to $1,000.00 as of October 4th. Wells Fargo increased its price objective for Equinix from $875.00 to $975.00, rating the company as “overweight” on October 17th. Cfra maintained a “hold” rating on the stock, while JPMorgan Chase also lifted its price target from $950.00 to $975.00 in a report dated October 1st. Meanwhile, HSBC Global Research upgraded Equinix to a “strong-buy” rating. Overall, five analysts have issued a hold rating, thirteen have given a buy rating, and one has assigned a strong buy rating, yielding a consensus rating of “Moderate Buy” and an average price target of $927.67.

Insider Transactions

In other developments, there has been notable insider activity within the company. On September 4th, EVP Jonathan Lin sold 93 shares at an average price of $820.99, totaling $76,352.07. Following this transaction, Lin’s total direct ownership remains at 7,141 shares, valued at $5,862,689.59. CAO Simon Miller also sold 569 shares on the same day at an average price of $820.91, resulting in a transaction valued at $467,097.79, leaving him with 5,554 shares worth $4,559,334.14. Overall, insiders sold a total of 10,906 shares worth roughly $9,071,764 in the past 90 days, with only 0.27% of the stock currently held by insiders.

Equinix Stock Performance

As of Thursday, shares of Equinix opened at $910.22. The company has a quick ratio of 1.22, a current ratio of 1.22, and a debt-to-equity ratio of 1.26. Equinix boasts a market capitalization of $86.39 billion, with a price-to-earnings ratio of 91.30 and a price-to-earnings-growth ratio of 2.11. The stock has a 50-day moving average of $866.57 and a 200-day moving average of $804.08. Over the past year, Equinix has seen a low of $684.14 and a high of $943.02.

The company recently announced its quarterly earnings on August 7th, reporting earnings per share of $3.16, which fell short of analyst expectations of $7.88. It achieved revenues of $2.16 billion for the quarter, meeting forecast predictions. Year-over-year, revenue increased by 6.9%, with a net margin of 12.24% and a return on equity of 8.46%. Analysts predict that Equinix will report an EPS of 31.01 for the current fiscal year.

Dividend Announcement

Equinix has also declared a quarterly dividend, which was paid out on September 18th. Shareholders recorded on August 21st received a dividend payment of $4.26. The dividend yield is approximately 1.87%, with an annualized dividend payout totaling $17.04. However, it’s important to note that Equinix's dividend payout ratio stands at 170.91%.

Company Overview

Equinix, Inc. (NASDAQ: EQIX) is recognized as a leading digital infrastructure company. It allows digital leaders to leverage its platform to interconnect essential infrastructure at remarkable speeds. By utilizing Equinix, organizations can efficiently connect with the right partners and resources, enhancing agility and expediting their digital services and sustainability objectives.

Equinix, Investors, Stock