1,322 Shares in Equinix, Inc. $EQIX Bought by Inceptionr LLC

Key Points

• Inceptionr LLC opened a new stake in Equinix, buying 1,322 shares worth about $1.035 million in the third quarter, while institutional investors own roughly 94.94% of the company.
• Equinix missed quarterly estimates, reporting EPS of $8.91 versus $9.07 expected and revenue of $2.42 billion versus $2.46 billion, though revenue was up 7% year-over-year.
• The company raised its quarterly dividend to $5.16 (annualized $20.64, ~2.2% yield) amid significant insider selling—about 13,602 shares (~$11.37M) sold last quarter.

Inceptionr LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,322 shares of the financial services provider's stock, valued at approximately $1,035,000.

A number of other large investors have also recently added to or reduced their stakes in EQIX. Ameriflex Group Inc. lifted its holdings 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 purchasing an additional 26 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Equinix during the 2nd quarter worth approximately $26,000. Abound Wealth Management raised its holdings in shares of Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 23 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Equinix in the second quarter worth $28,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of Equinix in the third quarter worth $37,000. Institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

EQIX has been the subject of a number of analyst reports. Zacks Research downgraded shares of Equinix from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 19th. BMO Capital Markets boosted their price target on shares of Equinix from $925.00 to $1,050.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Barclays restated a "positive" rating and set a $870.00 price objective on shares of Equinix in a research note on Tuesday, January 13th. HSBC set a $1,050.00 price objective on Equinix and gave the company a "buy" rating in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Equinix in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Equinix currently has an average rating of "Moderate Buy" and an average target price of $1,006.91.

Equinix Stock Up 0.8%

EQIX stock opened at $944.91 on Tuesday. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $992.90. The business's 50 day simple moving average is $855.68 and its 200 day simple moving average is $808.90. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $92.84 billion, a PE ratio of 68.72, a PEG ratio of 2.41 and a beta of 1.04.

Equinix (NASDAQ:EQIX - Get Free Report) 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 the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business earned $7.92 EPS. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be paid a dividend of $5.16 per share. The ex-dividend date is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Equinix's previous quarterly dividend of $4.69. Equinix's dividend payout ratio is 150.11%.

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 927 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $743,250.06. Following the transaction, the executive vice president directly owned 7,337 shares of the company's stock, valued at $5,882,659.86. This represents a 11.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,670 shares of the firm's stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.08, for a total transaction of $2,146,893.60. Following the sale, the chief executive officer owned 14,857 shares of the company's stock, valued at $11,946,216.56. This trade represents a 15.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,602 shares of company stock worth $11,369,645 in the last quarter. 0.27% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.