Heritage Trust Co purchased a new position in shares of 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 institutional investor purchased 942 shares of the financial services provider's stock, valued at approximately $888,000.
Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Equinix in the third quarter valued at about $276,000. Soltis Investment Advisors LLC boosted its holdings in Equinix by 7.7% in the third quarter. Soltis Investment Advisors LLC now owns 294 shares of the financial services provider's stock worth $261,000 after purchasing an additional 21 shares during the period. Pine Valley Investments Ltd Liability Co grew its position in shares of Equinix by 49.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider's stock valued at $1,414,000 after buying an additional 524 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Equinix by 133.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,714 shares of the financial services provider's stock worth $16,587,000 after purchasing an additional 10,140 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on EQIX shares. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Truist Financial lowered their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, BMO Capital Markets decreased their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $1,007.59.
Read Our Latest Stock Analysis on EQIX
Equinix Stock Performance
Shares of EQIX stock traded up $3.62 during mid-day trading on Tuesday, reaching $787.49. The stock had a trading volume of 352,474 shares, compared to its average volume of 554,251. The firm's 50 day simple moving average is $860.01 and its 200 day simple moving average is $900.38. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $76.65 billion, a PE ratio of 92.10, a P/E/G ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. On average, analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.
Equinix Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio is currently 219.42%.
Insider Transactions at Equinix
In related news, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the transaction, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is currently owned by company insiders.
About Equinix
(
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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