Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 767 shares of the financial services provider’s stock after buying an additional 40 shares during the period. Farther Finance Advisors LLC’s holdings in Equinix were worth $626,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after purchasing an additional 88,654 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Equinix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock worth $2,269,037,000 after buying an additional 62,005 shares in the last quarter. FMR LLC grew its position in shares of Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock worth $2,135,606,000 after buying an additional 81,144 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after buying an additional 44,471 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Equinix by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider’s stock valued at $1,793,429,000 after acquiring an additional 14,294 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 0.4%

EQIX opened at $892.64 on Friday. The firm has a market cap of $87.32 billion, a P/E ratio of 104.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The business has a 50 day moving average price of $851.86 and a 200 day moving average price of $888.43. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equinix’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $8.86 earnings per share. Research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.10%. Equinix’s dividend payout ratio is 195.01%.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now owns 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,176 shares of company stock valued at $2,808,008. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EQIX. Citigroup boosted their target price on shares of Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Friday, May 23rd. Bank of America started coverage on Equinix in a report on Monday, May 19th. They set a “buy” rating and a $1,000.00 target price on the stock. New Street Research upgraded Equinix to a “strong-buy” rating in a report on Monday, April 28th. Finally, BNP Paribas upgraded Equinix to a “strong-buy” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $1,004.80.

About Equinix

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.