Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 372,958 shares of the financial services provider's stock after acquiring an additional 6,945 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.38% of Equinix worth $304,091,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new stake in Equinix in the fourth quarter valued at $28,000. Pacific Center for Financial Services increased its position in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after buying an additional 15 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of Equinix by 127.8% in the first 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 in the last quarter. Cornerstone Planning Group LLC increased its position in shares of Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after buying an additional 12 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Equinix in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the business'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 directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on 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 owned 17,569 shares of the company's stock, valued at $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is currently owned by insiders.

Equinix Stock Performance

Shares of EQIX opened at $760.20 on Tuesday. The business's 50 day moving average is $854.04 and its two-hundred day moving average is $867.00. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The firm has a market cap of $74.36 billion, a price-to-earnings ratio of 79.02, a PEG ratio of 1.28 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the company posted $8.86 EPS. Equinix's quarterly revenue was up 4.1% on a year-over-year basis. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were issued a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.47%. Equinix's dividend payout ratio (DPR) is 195.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQIX. UBS Group dropped their price target on Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research report on Friday. Scotiabank dropped their price target on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 26th. Guggenheim began coverage on Equinix in a research report on Thursday, July 10th. They issued a "buy" rating and a $933.00 price target for the company. Cfra Research cut Equinix from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. dropped their price target on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, Equinix currently has an average rating of "Buy" and an average price target of $957.05.

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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