1,025 Shares in Equinix, Inc. $EQIX Acquired by Caldwell Trust Co

Key Points

• Caldwell Trust Co. acquired 1,025 Equinix shares in the third quarter, worth approximately $1.037 million. Institutional investors and hedge funds own 94.94% of the stock.
• Analyst sentiment is broadly positive: MarketBeat lists a “Moderate Buy” consensus and an average price target of $1,234.13, with 28 analysts rating the stock Buy or Strong Buy and four rating it Hold.
• Equinix reported quarterly EPS of $4.93, beating the $4.11 consensus estimate, while revenue rose 11% year over year to $2.57 billion. The company also declared a $5.16 quarterly dividend per share.

Caldwell Trust Co acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,025 shares of the financial services provider's stock, valued at approximately $1,037,000.

Several other large investors also recently added to or reduced their stakes in the company. Fulton Bank N.A. grew its holdings in shares of Equinix by 3.1% during the second quarter. Fulton Bank N.A. now owns 328 shares of the financial services provider's stock valued at $342,000 after buying an additional 10 shares in the last quarter. Avion Wealth raised its position in Equinix by 73.3% during the first quarter. Avion Wealth now owns 26 shares of the financial services provider's stock valued at $25,000 after buying an additional 11 shares during the period. High Net Worth Advisory Group LLC lifted its stake in Equinix by 5.3% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 219 shares of the financial services provider's stock worth $229,000 after acquiring an additional 11 shares in the last quarter. Angeles Wealth Management LLC lifted its stake in Equinix by 3.7% in the 2nd quarter. Angeles Wealth Management LLC now owns 310 shares of the financial services provider's stock worth $323,000 after acquiring an additional 11 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in Equinix by 30.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider's stock worth $54,000 after acquiring an additional 12 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings raised Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 16th. JPMorgan Chase & Co. raised their price target on shares of Equinix from $1,300.00 to $1,350.00 and gave the stock an "overweight" rating in a report on Thursday, October 29th. Scotiabank restated a "sector perform" rating and set a $1,208.00 price target on shares of Equinix in a report on Thursday, July 30th. Truist Financial boosted their price objective on shares of Equinix from $1,215.00 to $1,220.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Sanford C. Bernstein upped their price objective on shares of Equinix from $1,222.00 to $1,270.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Equinix currently has a consensus rating of "Moderate Buy" and an average target price of $1,234.13.

Insider Activity at Equinix

In other Equinix news, insider Kurt Pletcher sold 135 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $1,075.50, for a total value of $145,192.50. Following the sale, the insider owned 4,077 shares of the company's stock, valued at $4,384,813.50. The trade was a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the completion of the transaction, the director owned 13,734 shares of the company's stock, valued at approximately $15,156,567.72. This represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 770 shares of company stock worth $807,077. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

Shares of EQIX stock opened at $997.35 on Friday. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two week high of $1,128.68. The stock's 50-day moving average is $1,017.99 and its two-hundred day moving average is $1,012.18. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $98.41 billion, a P/E ratio of 59.90, a PEG ratio of 1.48 and a beta of 0.98.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $0.82. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The firm's revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $9.83 EPS. Analysts predict that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be given a dividend of $5.16 per share. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. Equinix's payout ratio is currently 123.96%.

Equinix Company Profile

Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.

The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.

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