Perigon Wealth Management LLC Raises Holdings in Equinix, Inc. $EQIX

Perigon Wealth Management LLC grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 141.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,178 shares of the financial services provider’s stock after purchasing an additional 1,860 shares during the period. Perigon Wealth Management LLC’s holdings in Equinix were worth $2,435,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EQIX. Ameriflex Group Inc. increased its holdings in Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 26 shares in the last quarter. Abound Wealth Management lifted its stake in Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the period. Salomon & Ludwin LLC bought a new position in Equinix during the 3rd quarter valued at about $37,000. Cornerstone Planning Group LLC boosted its holdings in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 13 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in shares of Equinix by 65.6% during the 3rd quarter. Westside Investment Management Inc. now owns 53 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock opened at $1,000.37 on Friday. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $1,006.56. The company’s fifty day simple moving average is $927.01 and its 200-day simple moving average is $834.34. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $98.29 billion, a PE ratio of 72.75, a P/E/G ratio of 2.57 and a beta of 1.01.

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

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were paid a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a 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 dividend payout ratio (DPR) is 150.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EQIX shares. Morgan Stanley reissued an “overweight” rating and set a $1,075.00 price objective on shares of Equinix in a report on Friday, February 13th. Sanford C. Bernstein initiated coverage on Equinix in a research note on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 price target on the stock. HSBC set a $1,050.00 price objective on Equinix and gave the stock a “buy” rating in a report on Thursday, January 15th. TD Cowen reissued a “buy” rating on shares of Equinix in a report on Thursday, February 12th. Finally, Wells Fargo & Company raised their target price on Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,016.86.

Insider Activity

In related news, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $965.71, for a total transaction of $613,225.85. Following the transaction, the insider owned 10,788 shares in the company, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 630 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $961.19, for a total value of $605,549.70. Following the sale, the insider owned 10,394 shares of the company’s stock, valued at $9,990,608.86. This represents a 5.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,842 shares of company stock worth $14,494,840. 0.27% of the stock is currently owned by insiders.

Equinix Company 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.