Machina Capital S.A.S. Takes $1.41 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Machina Capital S.A.S. acquired a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,734 shares of the financial services provider's stock, valued at approximately $1,414,000.

Several other institutional investors have also recently made changes to their positions in EQIX. Brighton Jones LLC raised its position in shares of Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after buying an additional 73 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Equinix in the 4th quarter valued at $2,027,000. Proficio Capital Partners LLC purchased a new stake in Equinix in the 4th quarter worth $246,000. LPL Financial LLC grew its position in shares of Equinix by 5.7% during the fourth quarter. LPL Financial LLC now owns 33,554 shares of the financial services provider's stock valued at $31,638,000 after purchasing an additional 1,823 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp increased its holdings in shares of Equinix by 10.6% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,879 shares of the financial services provider's stock worth $4,600,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EQIX shares. TD Securities boosted their target price on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on Equinix from $1,020.00 to $880.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lowered their target price on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Scotiabank reduced their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 26th. Finally, Truist Financial lowered their price objective on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research report on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $957.05.

Equinix Trading Up 1.5%

Shares of EQIX stock traded up $11.89 on Friday, reaching $801.43. 482,660 shares of the company's stock were exchanged, compared to its average volume of 676,624. The company's fifty day simple moving average is $840.37 and its 200 day simple moving average is $859.10. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $78.40 billion, a PE ratio of 83.31, a P/E/G ratio of 1.46 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The business's revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $8.86 earnings per share. As a group, analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were issued a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.34%. Equinix's payout ratio is 195.01%.

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.