Loomis Sayles & Co. L P Expands Investment in Equinix, Inc.

Loomis Sayles & Co. L P significantly increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 3,780.0% during the third quarter of the year, according to a recent filing with the Securities and Exchange Commission. The institutional investor now holds 194 shares of Equinix’s stock after acquiring an additional 189 shares in that quarter. The value of Loomis Sayles & Co. L P’s holdings amounts to $172,000, reflecting the firm's commitment to investing in the financial services provider.

Other institutional investors have also made considerable changes to their positions in EQIX. For instance, Pathway Financial Advisers LLC increased its holdings by an astounding 89,348.4% in the third quarter, bringing its total to 398,940 shares valued at $354,111,000 after a purchase of 398,494 shares. Likewise, Principal Financial Group Inc. raised its stake by 14.5% in the second quarter, now owning 1,888,191 shares worth $1,428,606,000 following the acquisition of an additional 238,883 shares.

Furthermore, D. E. Shaw & Co. Inc. enhanced its investment in Equinix by 104.6% during the second quarter, resulting in 314,741 shares valued at $238,133,000 after picking up 160,906 shares. Clearbridge Investments LLC also increased its position by 21.5%, now holding 902,493 shares worth $682,826,000. Additionally, Thrivent Financial for Lutherans boosted its stake by 456.5% in the same period, owning 138,966 shares valued at $105,142,000 after acquiring 113,994 shares. Currently, institutional investors and hedge funds own about 94.94% of the stock.

Analyst Opinions on Equinix

Several analysts have recently provided updates on Equinix shares. HSBC upgraded its rating from “hold” to “buy” while increasing the price target from $865.00 to $1,000.00 on October 4. Similarly, JPMorgan Chase & Co. raised its price target from $950.00 to $975.00 and assigned an “overweight” rating on October 1. Deutsche Bank also increased its price objective from $880.00 to $910.00, designating the stock as “buy”.

Other firms have followed suit; Evercore ISI raised its target from $945.00 to $975.00 and gave an “outperform” rating on October 23. Stifel Nicolaus also upped its price objective from $995.00 to $1,080.00 in a recent research note, affirming their “buy” rating. Analysis shows that five investment analysts have rated the stock with a hold rating while fourteen issued a buy rating, and one assigned a strong buy rating. As per MarketBeat, Equinix currently holds an average rating of “Moderate Buy” with a consensus price target of $952.88.

Equinix Stock Overview

As of the last trading day, shares of EQIX opened at $979.10. The company's metrics include a current ratio of 1.16, a quick ratio also at 1.16, and a debt-to-equity ratio of 1.12. The fifty-day moving average price stands at $900.50, while the two-hundred-day moving average is $831.45. The stock has seen a 1-year low of $684.14 and a high of $994.03, with a market capitalization of $94.47 billion. The price-to-earnings ratio is currently at 88.29, with a PEG ratio of 2.51 and a beta of 0.71.

Equinix Dividend Announcement

Recently, Equinix declared its quarterly dividend, which is set to be paid on December 11. Shareholders who were on record by November 13 will receive a dividend of $4.26 per share, translating to an annualized dividend of $17.04 and a yield of 1.74%. Note that the payout ratio stands at 153.65%, indicating how much of earnings are committed to paying dividends.

Insider Transactions

In terms of insider activity, Director Christopher B. Paisley sold 100 shares on November 18 for an average price of $891.00, totaling $89,100. After this transaction, he retains 17,794 shares valued at about $15,854,454, marking a decrease of 0.56% in his position. Another insider, Brandi Galvin Morandi, sold 864 shares on September 10 at an average price of $850.00, totaling $734,400. Post-sale, she holds 9,094 shares valued at around $7,729,900, a reduction of 8.68% in her stake. Over the last quarter, insiders sold a cumulative total of 13,754 shares worth $11,666,756, with corporate insiders owning 0.27% of the stock.

Company Profile of Equinix

Equinix (NASDAQ: EQIX) is recognized as a leading digital infrastructure company. It serves as a platform for digital leaders, enabling them to connect a foundational infrastructure with agility and software speed. Equinix facilitates organizations in accessing the essential locations, partners, and possibilities needed to efficiently scale operations, launch digital services, deliver superior customer experiences, and achieve their sustainability targets.

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