3Chopt Investment Partners LLC purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 800 shares of the financial services provider's stock, valued at approximately $652,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Equinix by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock worth $11,941,418,000 after acquiring an additional 88,654 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Equinix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock worth $2,269,037,000 after purchasing an additional 62,005 shares during the last quarter. FMR LLC grew its position in Equinix by 3.7% in the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after purchasing an additional 81,144 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Equinix by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after purchasing an additional 14,294 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after buying an additional 401,991 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Equinix news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the 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 in the company, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,176 shares of company stock valued at $2,808,008. Company insiders own 0.27% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on EQIX shares. Scotiabank cut their target price on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research note on Thursday. BMO Capital Markets cut Equinix from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $1,045.00 to $850.00 in a research report on Thursday. JPMorgan Chase & Co. reduced their price objective on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research note on Thursday. Stifel Nicolaus lowered their target price on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Cowen reissued a "buy" rating on shares of Equinix in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $977.30.
View Our Latest Research Report on Equinix
Equinix Stock Performance
EQIX stock traded up $39.58 during midday trading on Friday, reaching $785.11. 2,193,059 shares of the company's stock traded hands, compared to its average volume of 552,695. The firm has a market capitalization of $76.80 billion, a PE ratio of 81.61, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. The company has a 50-day moving average price of $867.26 and a two-hundred day moving average price of $881.19. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65.
Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $8.86 earnings per share. As a group, equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.
Equinix Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.39%. Equinix's dividend payout ratio is currently 195.01%.
Equinix Company Profile
(
Free Report)
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.
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