Easterly Investment Partners LLC Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Easterly Investment Partners LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 32,060 shares of the financial services provider's stock, valued at approximately $26,140,000. Equinix accounts for approximately 2.2% of Easterly Investment Partners LLC's investment portfolio, making the stock its 3rd largest position.

A number of other large investors also recently made changes to their positions in the business. Pinney & Scofield Inc. acquired a new position in Equinix in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC boosted its position in Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after purchasing an additional 23 shares during the period. Cornerstone Planning Group LLC boosted its position in Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock worth $34,000 after purchasing an additional 12 shares during the period. Pacific Center for Financial Services boosted 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 worth $36,000 after purchasing an additional 15 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in Equinix during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $2.21 during midday trading on Friday, reaching $777.78. The company's stock had a trading volume of 626,099 shares, compared to its average volume of 564,869. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a market capitalization of $76.08 billion, a P/E ratio of 80.85, a P/E/G ratio of 1.30 and a beta of 0.93. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The business's fifty day simple moving average is $847.91 and its 200-day simple moving average is $864.45.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $8.86 earnings per share. As a group, equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio is 195.01%.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 9,615 shares in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,176 shares of company stock worth $2,808,008. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on EQIX. Truist Financial decreased their target price on Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research report on Tuesday, July 1st. Cowen reissued a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Citigroup increased their price objective on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Finally, Scotiabank reduced their price objective on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 26th. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $957.05.

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.