First Business Financial Services Inc. Takes $1.78 Million Position in Equinix, Inc. (NASDAQ:EQIX)

First Business Financial Services Inc. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 2,358 shares of the financial services provider's stock, valued at approximately $1,784,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Goelzer Investment Management Inc. raised its stake in shares of Equinix by 0.3% in the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider's stock valued at $3,364,000 after buying an additional 13 shares during the period. Cypress Capital Group increased its holdings in Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider's stock worth $435,000 after acquiring an additional 13 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Equinix by 3.0% during the first quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider's stock valued at $402,000 after purchasing an additional 14 shares during the last quarter. Banco Santander S.A. boosted its position in Equinix by 2.0% during the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider's stock worth $577,000 after purchasing an additional 14 shares during the period. Finally, Ieq Capital LLC increased its stake in shares of Equinix by 0.5% in the fourth quarter. Ieq Capital LLC now owns 2,923 shares of the financial services provider's stock worth $2,354,000 after purchasing an additional 15 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Price Performance

EQIX stock traded down $5.85 during midday trading on Thursday, reaching $821.74. The company had a trading volume of 333,724 shares, compared to its average volume of 550,138. The firm has a 50-day moving average price of $798.12 and a 200-day moving average price of $794.56. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $77.99 billion, a P/E ratio of 83.01, a P/E/G ratio of 2.03 and a beta of 0.68. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter last year, the firm posted $8.04 earnings per share. The firm's revenue was up 6.9% on a year-over-year basis. On average, research analysts anticipate that Equinix, Inc. will post 31.04 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.07%. Equinix's dividend payout ratio is 170.91%.

Insider Buying and Selling

In other news, insider Meredith Williamson sold 576 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan Lin sold 93 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares of the company's stock, valued at approximately $5,862,689.59. The disclosure for this sale can be found here. Insiders sold 7,472 shares of company stock worth $6,154,812 in the last quarter. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on EQIX shares. The Goldman Sachs Group started coverage on shares of Equinix in a research note on Monday, July 1st. They set a "buy" rating and a $870.00 price target on the stock. Mizuho began coverage on Equinix in a research report on Thursday, July 11th. They set an "outperform" rating and a $873.00 target price on the stock. Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research report on Wednesday, August 21st. Wells Fargo & Company upgraded Equinix from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada reduced their target price on Equinix from $950.00 to $922.00 and set an "outperform" rating for the company in a report on Tuesday, May 28th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $876.71.

Equinix Profile

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.