Beacon Investment Advisory Services Inc. Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Beacon Investment Advisory Services Inc. raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,391 shares of the financial services provider's stock after purchasing an additional 444 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Equinix were worth $5,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in Equinix by 8.2% during the first quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock valued at $42,643,000 after purchasing an additional 3,981 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Equinix by 71.7% in the first quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock worth $60,690,000 after buying an additional 31,073 shares in the last quarter. First United Bank & Trust purchased a new position in shares of Equinix in the first quarter worth about $451,000. Miller Howard Investments Inc. NY lifted its stake in shares of Equinix by 20.1% in the first quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock worth $3,150,000 after buying an additional 646 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Equinix by 113.2% in the first quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock worth $14,639,000 after buying an additional 9,534 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research note on Tuesday. Cowen reaffirmed a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. JPMorgan Chase & Co. reduced their target price on shares of Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Bank of America reduced their target price on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Cfra Research downgraded shares of Equinix from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, June 26th. Four 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's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $957.05.

Equinix Stock Up 1.5%

Equinix stock traded up $11.89 during trading on Friday, reaching $801.43. The stock had a trading volume of 482,660 shares, compared to its average volume of 645,271. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The business has a 50 day moving average price of $840.37 and a 200 day moving average price of $859.10. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The stock has a market cap of $78.40 billion, a PE ratio of 83.31, a P/E/G ratio of 1.47 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) 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 company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the firm earned $8.86 earnings per share. The firm's quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

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

Insider Buying and Selling

In other news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director owned 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 9,615 shares of the company's stock, valued at $8,508,409.65. This 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 over the last 90 days. 0.27% of the stock is owned by insiders.

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.