Equinix, Inc. (NASDAQ:EQIX) Position Lowered by Barton Investment Management

Barton Investment Management trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 37,628 shares of the financial services provider's stock after selling 590 shares during the quarter. Equinix comprises approximately 3.8% of Barton Investment Management's portfolio, making the stock its 7th biggest position. Barton Investment Management's holdings in Equinix were worth $30,680,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EQIX. Pinney & Scofield Inc. bought a new stake in shares of Equinix in the fourth quarter worth approximately $28,000. Kestra Investment Management LLC purchased a new stake in Equinix in the fourth quarter worth approximately $31,000. Pacific Center for Financial Services grew its position in Equinix by 65.2% in the 4th 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. Whipplewood Advisors LLC raised its stake in 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 buying an additional 23 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in Equinix during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Transactions at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's 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 transaction, the chief executive officer now owns 9,615 shares of the company's stock, valued at approximately $8,508,409.65. The trade was a 23.47% 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 valued at $2,808,008. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EQIX. BNP Paribas upgraded Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Bank of America assumed coverage on Equinix in a research report on Monday, May 19th. They issued a "buy" rating and a $1,000.00 target price on the stock. Cowen restated a "buy" rating on shares of Equinix in a research note on Thursday, May 1st. Citigroup increased their price objective on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Truist Financial dropped their price objective on shares of Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $1,004.80.

Equinix Trading Up 0.5%

Shares of EQIX stock opened at $914.43 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a fifty day simple moving average of $839.65 and a two-hundred day simple moving average of $890.68. The firm has a market capitalization of $89.45 billion, a PE ratio of 106.95, a PEG ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03.

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, topping analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.86 earnings per share. On average, analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business 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. This represents a $18.76 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 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.

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