Argonautica Private Wealth Management Inc. Buys New Position in Equinix, Inc. (NASDAQ:EQIX)

Argonautica Private Wealth Management Inc. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 958 shares of the financial services provider's stock, valued at approximately $781,000.

A number of other hedge funds also recently modified their holdings of the stock. Pinney & Scofield Inc. bought a new position in Equinix in the 4th quarter valued at about $28,000. Pacific Center for Financial Services grew its position in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 15 shares during the last quarter. Whipplewood Advisors LLC increased its stake in shares of Equinix by 127.8% during 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 during the period. Cornerstone Planning Group LLC lifted its holdings in Equinix by 40.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock worth $34,000 after purchasing an additional 12 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new stake in Equinix in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

EQIX stock traded up $11.89 during trading on Friday, reaching $801.43. 482,660 shares of the company were exchanged, compared to its average volume of 676,624. The company has a market capitalization of $78.40 billion, a price-to-earnings ratio of 83.31, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The company has a 50-day moving average of $840.37 and a two-hundred day moving average of $859.10. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted 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 net margin of 10.48% and a return on equity of 6.96%. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter in the previous year, the firm posted $8.86 earnings per share. The company's revenue was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $4.69 dividend. 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 presently 195.01%.

Insider Activity

In other news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were 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 owned 9,615 shares of the company's stock, 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. Over the last three months, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EQIX has been the topic of several recent research reports. Truist Financial lowered their price objective on Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a research report on Tuesday, July 1st. TD Securities raised their price target 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. BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $1,045.00 to $850.00 in a research note on Thursday, June 26th. Cfra Research lowered shares of Equinix from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, June 26th. Finally, Barclays lowered their target price on shares of Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $957.05.

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.