NEOS Investment Management LLC Has $14.71 Million Stock Holdings in Equinix, Inc. $EQIX

NEOS Investment Management LLC grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 62.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,777 shares of the financial services provider’s stock after purchasing an additional 7,196 shares during the period. NEOS Investment Management LLC’s holdings in Equinix were worth $14,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Westside Investment Management Inc. grew its stake in Equinix by 190.9% in the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 21 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of Equinix during the second quarter worth approximately $26,000. Bank of Jackson Hole Trust lifted its holdings in shares of Equinix by 70.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 14 shares in the last quarter. Abound Wealth Management grew its position in Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in Equinix during the 2nd quarter valued at $28,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Wall Street Zen cut shares of Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Morgan Stanley reiterated an “overweight” rating and set a $1,075.00 price target on shares of Equinix in a research note on Friday. Citigroup reissued a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Finally, Stifel Nicolaus set a $1,075.00 target price on Equinix in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $996.23.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 1,333 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the sale, the insider directly owned 9,551 shares of the company’s stock, valued at $7,681,391.75. This represents a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith D. Taylor sold 2,051 shares of Equinix stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the transaction, the chief financial officer owned 26,373 shares of the company’s stock, valued at $21,208,375.41. The trade was a 7.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,353 shares of company stock valued at $11,283,043 in the last quarter. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $951.97 on Wednesday. The company has a market capitalization of $93.53 billion, a P/E ratio of 69.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.06. The company’s 50-day moving average is $801.23 and its 200 day moving average is $791.93. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $992.90.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $7.92 EPS. On average, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a yield of 2.2%. Equinix’s dividend payout ratio (DPR) is currently 136.44%.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.