Equinix, Inc. (NASDAQ:EQIX) is Vert Asset Management LLC's 5th Largest Position

Vert Asset Management LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 24,459 shares of the financial services provider's stock after purchasing an additional 750 shares during the period. Equinix makes up approximately 6.9% of Vert Asset Management LLC's investment portfolio, making the stock its 5th largest position. Vert Asset Management LLC's holdings in Equinix were worth $19,943,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EQIX. Oppenheimer & Co. Inc. raised its stake in Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock worth $7,946,000 after acquiring an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after purchasing an additional 2,560 shares during the period. National Pension Service lifted its holdings in shares of Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after purchasing an additional 3,164 shares in the last quarter. Empowered Funds LLC raised its position in shares of Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock worth $2,361,000 after purchasing an additional 404 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Equinix by 20.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock worth $93,807,000 after purchasing an additional 17,084 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's 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 sale, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's 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 completion of the sale, the chief executive officer now owns 9,615 shares in the company, valued at approximately $8,508,409.65. This represents 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. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQIX shares. JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a report on Friday, May 23rd. Truist Financial decreased their price target on shares of Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research report on Monday, May 12th. BMO Capital Markets decreased their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Citigroup upped their target price on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Mizuho cut 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 research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $1,004.80.

Equinix Trading Up 0.5%

EQIX opened at $914.43 on Monday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average of $839.65 and a 200-day moving average of $890.24. The stock has a market cap of $89.45 billion, a PE ratio of 106.95, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data 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. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the firm earned $8.86 earnings per share. The business's quarterly revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, May 21st. Equinix's payout ratio is currently 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.

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