Sagespring Wealth Partners LLC Buys New Shares in Equinix, Inc. (NASDAQ:EQIX)

Sagespring Wealth Partners LLC bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 809 shares of the financial services provider's stock, valued at approximately $763,000.

A number of other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in Equinix during the 4th quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Equinix during the fourth quarter worth about $39,000. Sierra Ocean LLC purchased a new position in Equinix in the fourth quarter valued at about $42,000. Thompson Investment Management Inc. acquired a new stake in Equinix during the 4th quarter valued at approximately $47,000. Finally, Key Financial Inc increased its holdings in Equinix by 30.4% during the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock worth $57,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQIX has been the subject of several research analyst reports. Oppenheimer increased their target price on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Barclays upped their price target on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Wells Fargo & Company decreased their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $1,005.50.

Equinix Stock Performance

Shares of EQIX traded up $11.48 during midday trading on Friday, hitting $790.15. 479,695 shares of the stock traded hands, compared to its average volume of 553,477. The business's 50 day moving average price is $847.77 and its two-hundred day moving average price is $897.68. The firm has a market capitalization of $77.29 billion, a PE ratio of 92.42, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

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

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.37%. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio is 219.42%.

Insider Activity at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,040 shares of company stock worth $6,547,068 in the last three months. 0.27% of the stock is owned by company insiders.

Equinix Company 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.