B&I Capital AG Has $16.44 Million Stock Position in Equinix, Inc. $EQIX

Key Points

• B&I Capital AG trimmed its position in Equinix by 10.2% to 21,460 shares valued at $16.44 million, making EQIX its fourth-largest holding (about 5.8% of the fund).
• Analyst sentiment remains positive with a MarketBeat consensus of a “Moderate Buy” and an average price target of $1,033.57, amid several recent price-target upgrades.
• Equinix raised its quarterly dividend to $5.16 (annualized $20.64, ~2.0% yield) even as it reported a slight EPS miss ($8.91 vs. $9.07) and revenue below estimates, and insiders have been net sellers recently.

B&I Capital AG decreased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,460 shares of the financial services provider's stock after selling 2,430 shares during the period. Equinix accounts for approximately 5.8% of B&I Capital AG's holdings, making the stock its 4th biggest holding. B&I Capital AG's holdings in Equinix were worth $16,442,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EQIX. Ameriflex Group Inc. lifted its stake in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock worth $25,000 after purchasing an additional 26 shares during the last quarter. Abound Wealth Management lifted its stake in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider's stock worth $27,000 after purchasing an additional 23 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in Equinix in the third quarter worth about $37,000. Finally, Cornerstone Planning Group LLC lifted its stake in Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after purchasing an additional 13 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on EQIX. Jefferies Financial Group raised their price objective on shares of Equinix from $950.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Truist Financial reissued a "buy" rating and issued a $1,127.00 price objective (up from $1,087.00) on shares of Equinix in a research note on Tuesday, March 31st. The Goldman Sachs Group raised their price objective on shares of Equinix from $785.00 to $894.00 and gave the stock a "neutral" rating in a research note on Thursday, February 12th. TD Cowen reissued a "buy" rating on shares of Equinix in a research note on Thursday, February 12th. Finally, Stifel Nicolaus set a $1,075.00 price target on shares of Equinix in a research note on Thursday, February 12th. Five analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,033.57.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $1,052.98 on Thursday. The company has a market capitalization of $103.85 billion, a price-to-earnings ratio of 76.58, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,060.07. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. The firm has a 50 day moving average of $962.55 and a 200 day moving average of $847.98.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.07 by ($0.16). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $7.92 earnings per share. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were given a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This is a boost from Equinix's previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix's payout ratio is currently 150.11%.

Insider Buying and Selling at Equinix

In other news, CFO Keith D. Taylor sold 2,051 shares of the business's stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the sale, the chief financial officer directly owned 26,373 shares of the company's stock, valued at $21,208,375.41. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 1,333 shares of the business's stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the sale, the insider directly owned 9,551 shares in the company, valued at $7,681,391.75. This trade represents a 12.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,266 shares of company stock valued at $14,927,320. Corporate insiders own 0.27% of the company's stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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