Equinix, Inc. (NASDAQ:EQIX) is NCP Inc.'s 7th Largest Position

NCP Inc. lifted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 35.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,800 shares of the financial services provider's stock after buying an additional 1,000 shares during the period. Equinix makes up about 4.2% of NCP Inc.'s investment portfolio, making the stock its 7th biggest position. NCP Inc.'s holdings in Equinix were worth $3,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Financial Advisors Inc. raised its holdings in Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock valued at $340,000 after acquiring an additional 11 shares during the period. Cornerstone Planning Group LLC raised its holdings in Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 12 shares during the period. Signaturefd LLC raised its holdings in Equinix by 0.8% during the first quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider's stock valued at $1,182,000 after acquiring an additional 12 shares during the period. Nemes Rush Group LLC raised its holdings in Equinix by 18.3% during the fourth quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider's stock valued at $79,000 after acquiring an additional 13 shares during the period. Finally, Griffin Asset Management Inc. raised its holdings in Equinix by 0.7% during the first quarter. Griffin Asset Management Inc. now owns 1,771 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 13 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider owned 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction 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 owned 17,569 shares of the company's stock, valued at approximately $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 worth $2,808,008 over the last 90 days. Company insiders own 0.27% of the company's stock.

Equinix Trading Up 1.5%

Shares of Equinix stock traded up $11.89 on Friday, hitting $801.43. 482,660 shares of the company traded hands, compared to its average volume of 645,271. The stock's 50 day moving average price is $840.37 and its 200-day moving average price is $859.10. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a market cap of $78.40 billion, a PE ratio of 83.31, a PEG ratio of 1.47 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results 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 company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. Equinix's revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.86 earnings per share. Equities research analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.34%. Equinix's dividend payout ratio is currently 195.01%.

Wall Street Analyst Weigh In

A number of research firms have commented on EQIX. Wolfe Research cut Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Mizuho cut their price objective on Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a research report on Tuesday, July 1st. Bank of America cut their price objective on Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Cowen restated a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Finally, TD Securities raised their price objective on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus 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.