2,647 Shares in Equinix, Inc. (NASDAQ:EQIX) Purchased by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,647 shares of the financial services provider's stock, valued at approximately $2,158,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinney & Scofield Inc. bought a new stake in Equinix during the fourth quarter worth $28,000. Kestra Investment Management LLC purchased a new position in shares of Equinix during the 4th quarter valued at $31,000. Whipplewood Advisors LLC increased its stake in shares of Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after purchasing an additional 23 shares in the last quarter. Pacific Center for Financial Services raised its holdings in Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 15 shares during the period. Finally, J.Safra Asset Management Corp bought a new position in shares of Equinix in the fourth quarter worth $39,000. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

EQIX has been the subject of several analyst reports. Bank of America initiated coverage on Equinix in a research note on Monday, May 19th. They issued a "buy" rating and a $1,000.00 target price for the company. Wolfe Research cut shares of Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday. BNP Paribas upgraded Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. TD Securities upped their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Scotiabank cut their price target on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $1,004.80.

Insider Activity at Equinix

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

Equinix Stock Down 0.3%

Equinix stock traded down $3.07 during mid-day trading on Monday, hitting $911.36. The company had a trading volume of 61,204 shares, compared to its average volume of 523,601. The stock's 50 day moving average price is $839.65 and its two-hundred day moving average price is $890.24. Equinix, Inc. has a 12 month low of $701.41 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. The company has a market capitalization of $89.15 billion, a PE ratio of 106.41, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last issued 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. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the firm earned $8.86 EPS. Equinix's revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is currently 195.01%.

Equinix 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.