CCM Investment Advisers LLC Acquires 1,737 Shares of Equinix, Inc. (NASDAQ:EQIX)

CCM Investment Advisers LLC lifted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,250 shares of the financial services provider's stock after purchasing an additional 1,737 shares during the period. CCM Investment Advisers LLC's holdings in Equinix were worth $10,803,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pinney & Scofield Inc. bought a new position in shares of Equinix in the fourth quarter worth about $28,000. Kestra Investment Management LLC bought a new position in Equinix during the fourth quarter valued at about $31,000. Whipplewood Advisors LLC increased its stake in 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 acquiring an additional 23 shares during the period. Pacific Center for Financial Services increased its stake in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 15 shares during the period. Finally, J.Safra Asset Management Corp bought a new position in Equinix during the fourth quarter valued at about $39,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EQIX. New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Barclays boosted their price target on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Scotiabank lowered their price target on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 22nd. TD Securities boosted their price target on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Truist Financial lowered their price target on Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $1,004.80.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction 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 now owns 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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.

Equinix Price Performance

Shares of EQIX traded down $3.78 on Friday, hitting $892.64. The company's stock had a trading volume of 502,420 shares, compared to its average volume of 527,259. The company has a market capitalization of $87.32 billion, a PE ratio of 104.40, a PEG ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a 50 day moving average price of $851.86 and a 200 day moving average price of $887.80.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the business earned $8.86 EPS. Equinix's revenue was up 4.1% compared to the same quarter last year. On average, research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio is 195.01%.

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.