Greykasell Wealth Strategies Inc. acquired a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,909 shares of the financial services provider's stock, valued at approximately $2,742,000. Equinix makes up approximately 1.5% of Greykasell Wealth Strategies Inc.'s portfolio, making the stock its 20th biggest position.
A number of other hedge funds have also made changes to their positions in the stock. Inspire Trust Co. N.A. grew its position in shares of Equinix by 0.7% during the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock worth $1,509,000 after buying an additional 11 shares in the last quarter. Rothschild Investment LLC grew its position in shares of Equinix by 1.9% during the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock worth $543,000 after buying an additional 11 shares in the last quarter. GS Investments Inc. grew its position in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider's stock worth $2,087,000 after buying an additional 12 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock worth $633,000 after buying an additional 12 shares in the last quarter. Finally, Great Lakes Retirement Inc. grew its position in shares of Equinix by 1.2% during the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.
Equinix Price Performance
EQIX stock traded up $14.07 during trading on Wednesday, hitting $855.33. The company had a trading volume of 1,079,494 shares, compared to its average volume of 531,357. The firm has a market capitalization of $83.25 billion, a price-to-earnings ratio of 100.04, a P/E/G ratio of 1.78 and a beta of 0.74. The business has a 50 day moving average of $908.77 and a 200 day moving average of $909.04. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.
Equinix Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.19%. Equinix's payout ratio is 219.42%.
Analyst Ratings Changes
Several equities analysts recently issued reports on EQIX shares. BMO Capital Markets reduced their price objective on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Oppenheimer raised their price objective on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Finally, Truist Financial reduced their price objective on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix currently has an average rating of "Buy" and an average price target of $989.35.
View Our Latest Stock Report on Equinix
Insiders Place Their Bets
In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by corporate insiders.
Equinix Company Profile
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Free Report)
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.
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