Equinix, Inc. (NASDAQ:EQIX) Stock Position Increased by InTrack Investment Management Inc

InTrack Investment Management Inc boosted its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,616 shares of the financial services provider's stock after purchasing an additional 371 shares during the quarter. Equinix comprises 1.9% of InTrack Investment Management Inc's portfolio, making the stock its 12th largest position. InTrack Investment Management Inc's holdings in Equinix were worth $2,133,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQIX. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the 4th quarter valued at $28,000. Kestra Investment Management LLC acquired a new position in Equinix in the fourth quarter valued at $31,000. Whipplewood Advisors LLC grew 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 valued at $33,000 after acquiring an additional 23 shares during the period. Pacific Center for Financial Services increased its stake 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 acquiring an additional 15 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in shares of Equinix in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Up 0.8%

Shares of Equinix stock traded up $7.44 during trading on Thursday, reaching $901.14. The company had a trading volume of 122,659 shares, compared to its average volume of 523,929. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm's fifty day moving average is $845.84 and its 200-day moving average is $890.18. The company has a market cap of $88.15 billion, a price-to-earnings ratio of 105.40, 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equinix's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.86 earnings per share. On average, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EQIX. BMO Capital Markets cut their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. New Street Research raised shares of Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Oppenheimer lifted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Cfra Research raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Finally, Citigroup boosted their price objective on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $1,004.80.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 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 directly owns 9,615 shares of the company's stock, valued at $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. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 over the last 90 days. 0.27% of the stock is owned by company insiders.

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.