Ecofi Investissements SA Purchases New Position in Equinix, Inc. (NASDAQ:EQIX)

Ecofi Investissements SA acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100 shares of the financial services provider’s stock, valued at approximately $74,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CNB Bank increased its position in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. LRI Investments LLC bought a new position in shares of Equinix in the first quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix in the second quarter valued at approximately $30,000. Rise Advisors LLC acquired a new position in shares of Equinix in the 1st quarter worth approximately $39,000. Finally, Meeder Asset Management Inc. acquired a new stake in Equinix during the 2nd quarter valued at $36,000. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.4 %

Equinix stock opened at $882.69 on Monday. The firm has a market capitalization of $83.77 billion, a price-to-earnings ratio of 88.53, a PEG ratio of 2.15 and a beta of 0.71. The company’s 50 day simple moving average is $828.80 and its 200 day simple moving average is $791.42. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $8.04 earnings per share. As a group, sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Analysts Set New Price Targets

A number of research firms have commented on EQIX. TD Cowen boosted their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average target price of $891.57.

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.