Headlands Technologies LLC Takes $1.27 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Headlands Technologies LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,681 shares of the financial services provider's stock, valued at approximately $1,272,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goelzer Investment Management Inc. lifted its stake in Equinix by 0.3% during the 4th quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider's stock valued at $3,364,000 after acquiring an additional 13 shares during the period. Cypress Capital Group grew its position 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 purchasing an additional 13 shares during the period. MRA Advisory Group raised its stake in Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider's stock valued at $317,000 after buying an additional 13 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Equinix by 3.0% during the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider's stock valued at $402,000 after buying an additional 14 shares during the period. Finally, Banco Santander S.A. boosted its stake in shares of Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider's stock worth $577,000 after buying an additional 14 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several recent research reports. Wells Fargo & Company upgraded 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 note on Tuesday, July 23rd. Barclays lifted their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 30th. Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. TD Cowen lifted their target price on Equinix from $859.00 to $865.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a research report on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Equinix presently has an average rating of "Moderate Buy" and a consensus target price of $876.71.

Equinix Price Performance

NASDAQ:EQIX traded up $2.92 during trading hours on Wednesday, reaching $867.70. The stock had a trading volume of 656,344 shares, compared to its average volume of 549,807. The stock has a market capitalization of $82.35 billion, a PE ratio of 87.03, a PEG ratio of 1.99 and a beta of 0.71. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a 50 day moving average price of $806.73 and a two-hundred day moving average price of $793.62. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly 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). The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company's revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.04 EPS. As a group, sell-side analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, August 21st. Equinix's payout ratio is presently 170.91%.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 864 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company's stock, valued at $7,729,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now owns 4 shares of the company's stock, valued at approximately $3,262.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 in the last 90 days. Company insiders own 0.27% of the company's stock.

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.