Douglas Lane & Associates LLC Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Douglas Lane & Associates LLC increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,571 shares of the financial services provider's stock after purchasing an additional 430 shares during the period. Equinix makes up 1.2% of Douglas Lane & Associates LLC's holdings, making the stock its 25th biggest position. Douglas Lane & Associates LLC owned approximately 0.10% of Equinix worth $79,555,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new position in shares of Equinix during the 4th quarter valued at about $28,000. Kestra Investment Management LLC acquired a new stake in Equinix during the fourth quarter worth about $31,000. Pacific Center for Financial Services raised its position 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 in the last quarter. J.Safra Asset Management Corp acquired a new position in Equinix in the fourth quarter valued at approximately $39,000. Finally, Sierra Ocean LLC purchased a new stake in Equinix in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EQIX shares. Scotiabank decreased their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 22nd. Wolfe Research upgraded Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price on the stock in a research report on Thursday, March 27th. New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. BMO Capital Markets lowered their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Oppenheimer boosted their price objective on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and an average target price of $1,004.80.

Insider Activity at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider now directly owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 in the last 90 days. 0.27% of the stock is owned by insiders.

Equinix Trading Up 0.1%

NASDAQ EQIX traded up $0.69 during trading hours on Thursday, reaching $912.89. The company had a trading volume of 297,593 shares, compared to its average volume of 524,296. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $835.81 and a 200 day moving average of $890.74. The stock has a market capitalization of $89.30 billion, a P/E ratio of 106.77, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

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

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.06%. Equinix's payout ratio is 195.01%.

About Equinix

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.