Entropy Technologies LP Makes New $12.54 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Entropy Technologies LP recently invested approximately $12.54 million in Equinix, making it the firm’s largest holding at 1.2% of their portfolio.
• Equinix reported $9.91 earnings per share in its latest quarterly earnings, significantly surpassing analysts' expectations and showing a 4.5% increase in revenue year-over-year.
• The company has announced a $4.69 quarterly dividend, yielding 2.4%, with a high payout ratio of 183.74%.

Entropy Technologies LP acquired a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,381 shares of the financial services provider's stock, valued at approximately $12,541,000. Equinix comprises approximately 1.2% of Entropy Technologies LP's portfolio, making the stock its biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new position in shares of Equinix during the 4th quarter valued at approximately $28,000. Pacific Center for Financial Services increased 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 valued at $36,000 after purchasing an additional 15 shares during the last quarter. Whipplewood Advisors LLC increased its position in shares of Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 23 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Equinix by 40.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 12 shares during the last quarter. Finally, Tidemark LLC increased its position in shares of Equinix by 57.1% during the 1st quarter. Tidemark LLC now owns 44 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Trading Down 0.4%

Shares of NASDAQ EQIX opened at $776.20 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $75.96 billion, a P/E ratio of 76.02, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The business has a fifty day moving average price of $820.97 and a 200 day moving average price of $848.37.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. The firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $9.22 EPS. Equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix's dividend payout ratio is 183.74%.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated 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 directly owned 17,569 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the sale, the chief executive officer owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

EQIX has been the topic of several analyst reports. Cowen reissued a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Truist Financial boosted their target price on Equinix from $904.00 to $961.00 and gave the company a "buy" rating in a research report on Thursday. Wells Fargo & Company dropped their price objective on Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Dbs Bank upgraded Equinix to a "moderate buy" rating in a report on Wednesday. Finally, New Street Research upgraded Equinix to a "strong-buy" rating in a report on Monday, April 28th. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $959.86.

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.

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