Ritholtz Wealth Management Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

Posted by Defense World Staff on Jul 6th, 2023

Ritholtz Wealth Management raised its holdings in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 8.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 448 shares of the financial services provider’s stock after purchasing an additional 34 shares during the quarter. Ritholtz Wealth Management’s holdings in Equinix were worth $323,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Two Sigma Advisers LP raised its stake in shares of Equinix by 74.7% in the 3rd quarter. Two Sigma Advisers LP now owns 29,000 shares of the financial services provider’s stock valued at $16,496,000 after acquiring an additional 12,400 shares during the period. Bank of Nova Scotia raised its position in Equinix by 1.4% in the fourth quarter. Bank of Nova Scotia now owns 7,875 shares of the financial services provider’s stock valued at $5,158,000 after purchasing an additional 105 shares during the period. Financial Management Professionals Inc. lifted its stake in Equinix by 170.8% during the first quarter. Financial Management Professionals Inc. now owns 65 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 41 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Equinix by 7.3% during the fourth quarter. New York State Common Retirement Fund now owns 203,298 shares of the financial services provider’s stock worth $133,166,000 after buying an additional 13,778 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Equinix by 107.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 971 shares of the financial services provider’s stock valued at $636,000 after buying an additional 502 shares in the last quarter. 94.56% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Up 0.9 %

EQIX opened at $790.12 on Thursday. Equinix, Inc. has a 52 week low of $494.89 and a 52 week high of $793.25. The business has a 50 day moving average price of $744.54 and a two-hundred day moving average price of $715.24. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.29. The company has a market cap of $73.90 billion, a PE ratio of 89.48, a P/E/G ratio of 2.01 and a beta of 0.64.

Equinix (NASDAQ:EQIX – Free Report) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.77 EPS for the quarter, missing the consensus estimate of $7.00 by ($4.23). The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Equinix had a return on equity of 7.20% and a net margin of 10.84%. Equinix’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $7.16 EPS. As a group, research analysts anticipate that Equinix, Inc. will post 27.87 EPS for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, May 24th were issued a dividend of $3.41 per share. The ex-dividend date was Tuesday, May 23rd. This represents a $13.64 annualized dividend and a yield of 1.73%. Equinix’s dividend payout ratio is currently 154.47%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Equinix from $702.00 to $714.00 and gave the company an “equal weight” rating in a report on Thursday, April 20th. Oppenheimer downgraded shares of Equinix from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Equinix from $775.00 to $780.00 in a research report on Monday, June 26th. Citigroup increased their price objective on Equinix from $825.00 to $830.00 in a research note on Friday, May 5th. Finally, Bank of America boosted their target price on Equinix from $750.00 to $850.00 in a research note on Friday, June 23rd. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $801.00.

Insider Activity at Equinix

In other news, CFO Keith D. Taylor sold 1,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $753.44, for a total transaction of $753,440.00. Following the completion of the transaction, the chief financial officer now directly owns 23,177 shares of the company’s stock, valued at approximately $17,462,478.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Keith D. Taylor sold 1,000 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $753.44, for a total value of $753,440.00. Following the completion of the transaction, the chief financial officer now owns 23,177 shares in the company, valued at approximately $17,462,478.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 4,835 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $748.64, for a total transaction of $3,619,674.40. Following the sale, the insider now directly owns 15,608 shares in the company, valued at approximately $11,684,773.12. The disclosure for this sale can be found here. Insiders sold a total of 18,221 shares of company stock worth $13,488,866 over the last 90 days. Company insiders own 0.32% of the company’s stock.

About Equinix

(Free Report)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.