Rhumbline Advisers Buys 4,234 Shares of Equinix, Inc. (NASDAQ:EQIX)

Rhumbline Advisers grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,166 shares of the financial services provider's stock after buying an additional 4,234 shares during the quarter. Rhumbline Advisers owned 0.20% of Equinix worth $159,944,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Equinix during the 4th quarter valued at approximately $1,067,270,000. GAMMA Investing LLC lifted its stake in shares of Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after acquiring an additional 889,282 shares during the period. Northern Trust Corp raised its stake in shares of Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after buying an additional 586,034 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after purchasing an additional 401,991 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Equinix during the fourth quarter worth $328,899,000. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on EQIX. BMO Capital Markets cut their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their price target on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a report on Monday, May 12th. Wells Fargo & Company lowered their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Citigroup raised their price objective on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Scotiabank dropped their price target on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $1,004.80.

Equinix Trading Up 1.3%

Equinix stock traded up $12.01 during trading hours on Thursday, reaching $924.21. 143,150 shares of the company's stock traded hands, compared to its average volume of 523,723. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm's 50 day moving average is $835.81 and its 200-day moving average is $890.74. 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 firm has a market capitalization of $90.40 billion, a price-to-earnings ratio of 107.98, a PEG ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the business earned $8.86 EPS. The business's quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

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 given a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.03%. Equinix's payout ratio is currently 195.01%.

Insider Activity

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. 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 in the last ninety days. 0.27% of the stock is owned by insiders.

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.