Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,557 shares of the financial services provider’s stock after purchasing an additional 329 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Equinix were worth $3,715,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EQIX. Norges Bank purchased a new position in shares of Equinix during the fourth quarter valued at approximately $1,067,270,000. GAMMA Investing LLC raised its holdings in Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock worth $725,957,000 after acquiring an additional 889,282 shares during the last quarter. Northern Trust Corp raised its holdings in Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the last quarter. Wellington Management Group LLP raised its holdings in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock worth $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Equinix in the 4th quarter worth approximately $328,899,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BNP Paribas upgraded shares of Equinix to a “strong-buy” rating in a report on Thursday, May 1st. Stifel Nicolaus decreased their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a “buy” rating for the company in a report on Thursday. Wolfe Research lowered shares of Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Mizuho cut their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Finally, Scotiabank cut their target price on shares of Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and six have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $977.30.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the company’s 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 of the company’s stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer now directly owns 9,615 shares of the company’s stock, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,176 shares of company stock valued at $2,808,008. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 9.6%

Shares of EQIX stock opened at $745.53 on Friday. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The firm has a fifty day moving average price of $867.36 and a 200-day moving average price of $882.41. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The company has a market cap of $72.93 billion, a price-to-earnings ratio of 77.50, a PEG ratio of 1.07 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.86 EPS. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.52%. The ex-dividend date was Wednesday, May 21st. Equinix’s dividend payout ratio is currently 195.01%.

Equinix Company 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.