Board of the Pension Protection Fund Makes New $652,000 Investment in Equinix, Inc. (NASDAQ:EQIX)

Board of the Pension Protection Fund bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 800 shares of the financial services provider's stock, valued at approximately $652,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new stake in Equinix during the 4th quarter valued at $28,000. Pacific Center for Financial Services grew its position in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after buying an additional 15 shares in 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 valued at $33,000 after buying an additional 23 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Equinix in the fourth quarter valued at about $39,000. Finally, Park Square Financial Group LLC purchased a new stake in Equinix in the fourth quarter worth about $49,000. Institutional investors own 94.94% of the company's stock.

Insider Activity

In related news, 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 now owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer now owns 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent research reports. Mizuho dropped their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a report on Friday, March 28th. Wells Fargo & Company dropped their price objective on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a research note on Thursday. New Street Research raised shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Truist Financial lowered their target price on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a report on Monday, May 12th. Finally, TD Securities upped their price objective on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and six have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $977.30.

Equinix Stock Down 9.6%

Equinix stock opened at $745.53 on Friday. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The business's 50-day simple moving average is $867.36 and its two-hundred day simple moving average is $882.41. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The company has a market cap of $72.93 billion, a PE ratio of 77.50, a PEG ratio of 1.07 and a beta of 0.97.

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%. Equinix's quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $8.86 earnings per share. Equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.52%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

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.

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