Equinix, Inc. $EQIX Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 32.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,217 shares of the financial services provider’s stock after purchasing an additional 1,536 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Equinix were worth $4,763,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Equinix by 1.2% during the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock worth $10,410,575,000 after purchasing an additional 162,638 shares during the period. State Street Corp increased its stake in Equinix by 3.7% in the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after buying an additional 220,981 shares during the period. JPMorgan Chase & Co. raised its position in Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after buying an additional 588,967 shares during the last quarter. Principal Financial Group Inc. raised its position in Equinix by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock worth $1,542,595,000 after buying an additional 56,592 shares during the last quarter. Finally, APG Asset Management US Inc. lifted its stake in shares of Equinix by 0.4% in the 3rd quarter. APG Asset Management US Inc. now owns 1,211,357 shares of the financial services provider’s stock worth $937,530,000 after acquiring an additional 5,109 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets increased their price target on shares of Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Scotiabank restated an “outperform” rating on shares of Equinix in a research report on Thursday, February 12th. Truist Financial lifted their price objective on Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,075.00 target price on shares of Equinix in a research report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,015.05.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $964.05 on Tuesday. 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 one year low of $701.41 and a one year high of $992.90. The firm has a market capitalization of $94.72 billion, a P/E ratio of 70.11, a PEG ratio of 2.48 and a beta of 1.04. The company’s fifty day moving average is $910.75 and its two-hundred day moving average is $828.83.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results 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). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the business earned $7.92 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. Equinix’s payout ratio is 150.11%.

Insider Activity at Equinix

In related news, CEO Adaire Fox-Martin sold 1,086 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $966.20, for a total value of $1,049,293.20. Following the completion of the transaction, the chief executive officer directly owned 19,574 shares of the company’s stock, valued at $18,912,398.80. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total value of $563,962.96. Following the transaction, the executive vice president directly owned 7,768 shares of the company’s stock, valued at approximately $7,501,479.92. This represents a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,842 shares of company stock worth $14,494,840. 0.27% of the stock is currently owned by company insiders.

About Equinix

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.