Equinix, Inc. $EQIX Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 22.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,241 shares of the financial services provider’s stock after buying an additional 592 shares during the period. Concurrent Investment Advisors LLC’s holdings in Equinix were worth $2,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of EQIX. Ameriflex Group Inc. raised its position in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 26 shares during the last quarter. Princeton Global Asset Management LLC raised its position in shares of Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after buying an additional 28 shares during the last quarter. WPG Advisers LLC raised its position in shares of Equinix by 51.7% in the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock valued at $34,000 after buying an additional 15 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Equinix in the third quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after buying an additional 13 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equinix news, insider Jonathan Lin sold 635 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 10,788 shares of the company’s stock, valued at approximately $10,418,079.48. This trade represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 2,716 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the sale, the chairman directly owned 12,594 shares in the company, valued at approximately $12,155,099.10. The trade was a 17.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,380 shares of company stock valued at $6,179,022 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of recent research reports. Barclays increased their target price on shares of Equinix from $1,020.00 to $1,109.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Cantor Fitzgerald started coverage on shares of Equinix in a research report on Thursday, April 9th. They set an “overweight” rating and a $1,173.00 price objective for the company. Zacks Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 9th. Scotiabank cut shares of Equinix from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $997.00 to $1,050.00 in a research report on Tuesday, April 7th. Finally, Truist Financial restated a “buy” rating and set a $1,127.00 price objective (up from $1,087.00) on shares of Equinix in a research report on Tuesday, March 31st. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,082.75.

Equinix Trading Down 1.2%

NASDAQ EQIX opened at $1,076.40 on Wednesday. The firm has a 50 day simple moving average of $998.36 and a 200-day simple moving average of $867.83. 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 $710.52 and a one year high of $1,128.68. The firm has a market cap of $106.15 billion, a price-to-earnings ratio of 78.28, a PEG ratio of 2.78 and a beta of 1.01.

Equinix (NASDAQ:EQIX) last issued 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 return on equity of 9.60% and a net margin of 14.65%.The firm 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 firm earned $7.92 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were paid a $5.16 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, February 25th. Equinix’s payout ratio is presently 150.11%.

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.