Advanced Portfolio Management LLC Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Advanced Portfolio Management LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 485 shares of the financial services provider's stock, valued at approximately $443,000.

Several other institutional investors and hedge funds have also bought and sold shares of EQIX. Rothschild Investment LLC boosted its holdings in shares of Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock worth $543,000 after buying an additional 11 shares during the period. Legacy Financial Advisors Inc. boosted its stake in Equinix by 3.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock valued at $340,000 after purchasing an additional 11 shares during the period. Ritholtz Wealth Management grew its holdings in Equinix by 1.8% in the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock valued at $633,000 after buying an additional 12 shares in the last quarter. Great Lakes Retirement Inc. increased its position in Equinix by 1.2% during the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after buying an additional 12 shares during the period. Finally, Lake Street Advisors Group LLC boosted its position in shares of Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock valued at $713,000 after acquiring an additional 12 shares during the period. Institutional investors own 94.94% of the company's stock.

Equinix Stock Down 0.1 %

NASDAQ:EQIX traded down $1.09 on Thursday, reaching $871.39. 147,977 shares of the stock traded hands, compared to its average volume of 538,812. The company's fifty day simple moving average is $826.93 and its 200 day simple moving average is $894.32. The company has a market capitalization of $85.24 billion, a price-to-earnings ratio of 101.92, a PEG ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter in the prior year, the business earned $8.86 EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's payout ratio is currently 195.01%.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total transaction of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares of the company's stock, valued at $1,157,513.85. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 2,454 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the sale, the chief financial officer now directly owns 24,402 shares of the company's stock, valued at $22,677,754.68. This represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EQIX. New Street Research raised shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Cowen reiterated a "buy" rating on shares of Equinix in a research report on Thursday, May 1st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $1,005.11.

Equinix Company Profile

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.