Xponance Inc. Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

Xponance Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,272 shares of the financial services provider's stock after acquiring an additional 559 shares during the period. Xponance Inc.'s holdings in Equinix were worth $13,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Kestra Investment Management LLC bought a new position in Equinix during the fourth quarter worth $31,000. J.Safra Asset Management Corp bought a new position in Equinix during the fourth quarter worth $39,000. Sierra Ocean LLC bought a new position in Equinix during the fourth quarter worth $42,000. Dunhill Financial LLC raised its stake in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. acquired a new stake in Equinix in the fourth quarter worth $47,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

Shares of NASDAQ:EQIX traded down $17.13 during trading on Friday, reaching $834.59. The company had a trading volume of 1,624,876 shares, compared to its average volume of 519,804. The company has a fifty day moving average of $903.56 and a two-hundred day moving average of $908.81. The stock has a market capitalization of $81.23 billion, a P/E ratio of 97.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Remove Ads

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate 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 forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders 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 2.25%. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio is presently 219.42%.

Analyst Ratings Changes

A number of research firms have commented on EQIX. Truist Financial reduced their price target on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a report on Monday, March 10th. Royal Bank of Canada lifted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Oppenheimer lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Wells Fargo & Company reduced 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. Finally, Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $990.06.

Insider Buying and Selling at Equinix

In related news, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the transaction, the chief executive officer now directly owns 4,329 shares of the company's stock, valued at $3,937,268.79. This trade represents a 24.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the sale, the chief financial officer now owns 22,076 shares of the company's stock, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 in the last quarter. Company insiders own 0.27% of the company's stock.

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.