Roxbury Financial LLC purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 347 shares of the financial services provider's stock, valued at approximately $341,000.
A number of other hedge funds have also added to or reduced their stakes in EQIX. State Street Corp boosted its stake in shares of Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock valued at $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider's stock valued at $2,079,591,000 after acquiring an additional 33,277 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the period. JPMorgan Chase & Co. grew its position in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider's stock valued at $1,006,724,000 after buying an additional 53,729 shares during the period. 94.94% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on EQIX. Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Truist Financial raised their price target on shares of Equinix from $935.00 to $1,090.00 and gave the stock a "buy" rating in a report on Friday, November 29th. Finally, Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix currently has a consensus rating of "Buy" and a consensus price target of $994.82.
Read Our Latest Stock Report on EQIX
Insider Activity at Equinix
In related news, Chairman Charles J. Meyers sold 5,788 shares of the company'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 value of $5,265,980.28. Following the transaction, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. The trade was a 7.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,826 shares of company stock valued at $15,555,490. Company insiders own 0.27% of the company's stock.
Equinix Stock Performance
Shares of EQIX stock traded up $7.18 during trading on Wednesday, reaching $939.08. 529,114 shares of the company's stock traded hands, compared to its average volume of 507,929. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The firm's 50-day moving average is $932.87 and its 200 day moving average is $899.70. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $91.40 billion, a P/E ratio of 109.83, a PEG ratio of 2.24 and a beta of 0.72.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equities research analysts expect that Equinix, Inc. will post 33.71 EPS for the current year.
Equinix Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.00%. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is presently 199.30%.
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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