PFG Advisors Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

PFG Advisors boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 45.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,050 shares of the financial services provider's stock after purchasing an additional 645 shares during the period. PFG Advisors' holdings in Equinix were worth $1,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Equinix by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock worth $2,269,037,000 after acquiring an additional 62,005 shares in the last quarter. FMR LLC grew its stake in Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after purchasing an additional 81,144 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after purchasing an additional 14,294 shares during the period. Wellington Management Group LLP grew its stake in Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after purchasing an additional 401,991 shares during the period. Finally, Northern Trust Corp grew its stake in Equinix by 65.3% during the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EQIX shares. BMO Capital Markets cut Equinix from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $1,045.00 to $850.00 in a research note on Thursday, June 26th. JPMorgan Chase & Co. decreased their target price on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Cowen reaffirmed a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. New Street Research upgraded Equinix to a "strong-buy" rating in a report on Monday, April 28th. Finally, Truist Financial cut their price target on Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a report on Tuesday, July 1st. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $957.05.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm'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 completion of the sale, the director directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider directly owned 1,842 shares of the company's stock, valued at $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock valued at $2,808,008 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Equinix Stock Performance

Equinix stock traded up $11.89 during mid-day trading on Friday, reaching $801.43. 482,660 shares of the company's stock were exchanged, compared to its average volume of 645,271. The business's fifty day simple moving average is $840.37 and its 200 day simple moving average is $859.10. The firm has a market capitalization of $78.40 billion, a PE ratio of 83.31, a P/E/G ratio of 1.47 and a beta of 0.93. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. 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 released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the business posted $8.86 earnings per share. The business's revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

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

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.