Peapack Gladstone Financial Corp Buys 334 Shares of Equinix, Inc. (NASDAQ:EQIX)

Peapack Gladstone Financial Corp grew its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,089 shares of the financial services provider's stock after acquiring an additional 334 shares during the period. Peapack Gladstone Financial Corp's holdings in Equinix were worth $12,341,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of EQIX. Inspire Trust Co. N.A. raised its holdings in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 11 shares during the last quarter. Rothschild Investment LLC raised its stake in 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 during the last quarter. Ritholtz Wealth Management lifted its holdings in Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock valued at $633,000 after buying an additional 12 shares during the period. Great Lakes Retirement Inc. boosted its position in Equinix by 1.2% during the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock valued at $920,000 after acquiring an additional 12 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in Equinix by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock worth $713,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

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Equinix Stock Up 0.8 %

Shares of EQIX stock traded up $6.09 on Friday, hitting $776.83. The stock had a trading volume of 513,907 shares, compared to its average volume of 554,648. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The business has a 50 day moving average of $863.06 and a 200 day moving average of $900.92. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The stock has a market cap of $75.61 billion, a price-to-earnings ratio of 90.86, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.41%. This is a positive change from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio is presently 219.42%.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction dated 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 $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,054 shares of company stock worth $17,466,950. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Truist Financial reduced their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Wolfe Research upgraded shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price on the stock in a research report on Thursday, March 27th. Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a report on Monday, January 27th. Finally, BMO Capital Markets dropped their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Two 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $1,007.59.

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.