Global Retirement Partners LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 42.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 336 shares of the financial services provider’s stock after buying an additional 100 shares during the quarter. Global Retirement Partners LLC’s holdings in Equinix were worth $235,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its stake in Equinix by 1.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,162 shares of the financial services provider’s stock worth $761,000 after purchasing an additional 14 shares during the period. AdvisorNet Financial Inc boosted its position in Equinix by 20.3% during the 1st quarter. AdvisorNet Financial Inc now owns 83 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 14 shares during the last quarter. Glassman Wealth Services grew its stake in shares of Equinix by 14.6% during the 1st quarter. Glassman Wealth Services now owns 110 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 14 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Equinix by 10.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 16 shares in the last quarter. Finally, Mission Wealth Management LP lifted its position in shares of Equinix by 1.5% in the first quarter. Mission Wealth Management LP now owns 1,157 shares of the financial services provider’s stock worth $834,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.
Analyst Ratings Changes
EQIX has been the topic of several analyst reports. Credit Suisse Group boosted their price target on shares of Equinix from $753.00 to $768.00 in a research report on Thursday, May 4th. UBS Group increased their price target on Equinix from $765.00 to $900.00 in a research report on Thursday, June 22nd. Raymond James raised their price target on Equinix from $885.00 to $910.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 3rd. Argus upped their price objective on Equinix from $720.00 to $795.00 in a research note on Thursday, May 18th. Finally, BMO Capital Markets raised their target price on shares of Equinix from $800.00 to $870.00 in a research note on Friday, June 16th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $809.05.
Equinix Price Performance
EQIX stock opened at $774.49 on Thursday. Equinix, Inc. has a fifty-two week low of $494.89 and a fifty-two week high of $821.63. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.02 and a quick ratio of 2.28. The stock has a market capitalization of $72.47 billion, a price-to-earnings ratio of 89.33, a PEG ratio of 2.07 and a beta of 0.64. The business’s fifty day moving average price is $779.50 and its two-hundred day moving average price is $735.16.
Equinix Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be given a dividend of $3.41 per share. This represents a $13.64 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, August 22nd. Equinix’s dividend payout ratio is 157.32%.
Insiders Place Their Bets
In other news, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $753.44, for a total transaction of $753,440.00. Following the transaction, the chief financial officer now directly owns 23,177 shares of the company’s stock, valued at $17,462,478.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brandi Galvin Morandi sold 4,835 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 15,608 shares in the company, valued at approximately $11,684,773.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was 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 disclosure for this sale can be found here. Insiders sold 6,835 shares of company stock worth $5,131,114 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.
About Equinix
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.
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