Parcion Private Wealth LLC Buys Shares of 5,762 Equinix, Inc. (NASDAQ:EQIX)

Parcion Private Wealth LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,762 shares of the financial services provider's stock, valued at approximately $4,359,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CNB Bank increased its holdings in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider's stock worth $25,000 after buying an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC bought a new position in Equinix in the 1st quarter worth approximately $31,000. Rise Advisors LLC acquired a new position in Equinix during the 1st quarter worth $39,000. Finally, UMB Bank n.a. boosted its position in Equinix by 30.0% in the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider's stock valued at $54,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Buying and Selling

In related news, insider Meredith Williamson sold 576 shares of the company'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 transaction of $474,733.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Simon Miller sold 569 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Insiders sold a total of 7,472 shares of company stock worth $6,154,812 in the last three months. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

Shares of EQIX traded down $3.78 during midday trading on Friday, reaching $817.96. The stock had a trading volume of 457,770 shares, compared to its average volume of 549,600. The firm has a 50 day simple moving average of $800.75 and a 200-day simple moving average of $794.06. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The firm has a market cap of $77.63 billion, a PE ratio of 82.04, a P/E/G ratio of 2.03 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 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 for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $8.04 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Equinix, Inc. will post 31.04 EPS for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix's payout ratio is presently 170.91%.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. Barclays increased their price target on Equinix from $669.00 to $671.00 and gave the stock an "equal weight" rating in a report on Thursday, May 30th. Wells Fargo & Company raised shares of Equinix from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. TD Cowen raised their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Finally, Mizuho assumed coverage on shares of Equinix in a report on Thursday, July 11th. They set an "outperform" rating and a $873.00 price objective on the stock. Six equities 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $876.71.

About Equinix

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.