Aigen Investment Management LP Buys New Shares in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Aigen Investment Management LP invested approximately $1 million in Equinix, purchasing 1,229 shares in the first quarter.
• Institutional investors own 94.94% of Equinix's stock, with several firms, including JPMorgan Chase and Entropy Technologies LP, significantly increasing their positions.
• Equinix recently announced a quarterly dividend of $4.69 per share, with a yield of 2.4%, despite having a high payout ratio of 183.74%.

Aigen Investment Management LP bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,229 shares of the financial services provider's stock, valued at approximately $1,002,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after buying an additional 889,282 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the period. JPMorgan Chase & Co. increased its stake in Equinix by 22.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock valued at $1,296,871,000 after buying an additional 291,753 shares during the period. National Bank of Canada FI boosted its position in shares of Equinix by 169.7% during the 1st quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider's stock valued at $321,427,000 after purchasing an additional 248,075 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock worth $10,523,576,000 after buying an additional 242,121 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EQIX. Mizuho lowered their price objective on shares of Equinix from $1,069.00 to $900.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 1st. Stifel Nicolaus lowered their target price on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Barclays reduced their price target on Equinix from $837.00 to $798.00 and set an "equal weight" rating for the company in a research report on Friday, July 11th. Guggenheim began coverage on Equinix in a report on Thursday, July 10th. They issued a "buy" rating and a $933.00 price objective for the company. Finally, BNP Paribas raised Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $959.86.

Insiders Place Their Bets

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 0.4%

Shares of Equinix stock traded down $3.32 during midday trading on Wednesday, reaching $784.00. The company had a trading volume of 420,432 shares, compared to its average volume of 505,037. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a fifty day moving average price of $816.55 and a 200 day moving average price of $846.16. The firm has a market cap of $76.72 billion, a PE ratio of 76.79, a P/E/G ratio of 1.42 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating the consensus estimate of $3.49 by $6.42. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.22 earnings per share. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix's dividend payout ratio is 183.74%.

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.