Equinix, Inc. (NASDAQ:EQIX) Stock Position Lifted by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 50.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,124 shares of the financial services provider’s stock after purchasing an additional 377 shares during the period. Kestra Private Wealth Services LLC’s holdings in Equinix were worth $916,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Brighton Jones LLC lifted its stake in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 73 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in Equinix in the fourth quarter valued at approximately $2,027,000. Proficio Capital Partners LLC acquired a new stake in Equinix in the fourth quarter valued at approximately $246,000. LPL Financial LLC lifted its stake in Equinix by 5.7% in the fourth quarter. LPL Financial LLC now owns 33,554 shares of the financial services provider’s stock valued at $31,638,000 after acquiring an additional 1,823 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp lifted its stake in Equinix by 10.6% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,879 shares of the financial services provider’s stock valued at $4,600,000 after acquiring an additional 466 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on EQIX. JPMorgan Chase & Co. decreased their price objective on shares of Equinix from $975.00 to $935.00 and set an “overweight” rating for the company in a report on Thursday, June 26th. The Goldman Sachs Group reduced their price target on shares of Equinix from $1,020.00 to $880.00 and set a “buy” rating for the company in a report on Wednesday, July 2nd. New Street Research upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Wells Fargo & Company decreased their price target on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating on the stock in a research report on Thursday, June 26th. Finally, Barclays decreased their price target on shares of Equinix from $837.00 to $798.00 and set an “equal weight” rating on the stock in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $957.05.

Equinix Stock Performance

Shares of EQIX opened at $796.21 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The firm’s 50 day moving average price is $841.92 and its two-hundred day moving average price is $860.13. The firm has a market cap of $77.88 billion, a P/E ratio of 82.77, a PEG ratio of 1.48 and a beta of 0.93.

Equinix (NASDAQ:EQIX) last posted 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 company had revenue of $2.23 billion for 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 firm’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $8.86 earnings per share. On average, analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.36%. Equinix’s dividend payout ratio is currently 195.01%.

Insider Buying and Selling at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director directly owned 17,569 shares in the company, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 over the last ninety days. Insiders own 0.27% of the company’s stock.

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.