Geneos Wealth Management Inc. Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Geneos Wealth Management Inc. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 86.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,448 shares of the financial services provider's stock after purchasing an additional 2,067 shares during the period. Geneos Wealth Management Inc.'s holdings in Equinix were worth $3,627,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EQIX. Legacy Financial Advisors Inc. grew its position in Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock worth $340,000 after acquiring an additional 11 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock worth $34,000 after acquiring an additional 12 shares in the last quarter. Signaturefd LLC grew its position in Equinix by 0.8% in the first quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider's stock worth $1,182,000 after acquiring an additional 12 shares in the last quarter. AE Wealth Management LLC grew its position in Equinix by 5.1% in the first quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider's stock worth $202,000 after acquiring an additional 12 shares in the last quarter. Finally, Nemes Rush Group LLC grew its position in Equinix by 18.3% in the fourth quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider's stock worth $79,000 after acquiring an additional 13 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the sale, the director owned 17,569 shares in the company, valued at $15,274,664.29. This 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 the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the sale, the chief executive officer 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 disclosure for this sale can be found here. In the last quarter, insiders sold 3,176 shares of company stock valued at $2,808,008. Corporate insiders own 0.27% of the company's stock.

Equinix Trading Down 1.7%

Shares of NASDAQ:EQIX traded down $13.42 during midday trading on Friday, hitting $771.75. 500,622 shares of the stock traded hands, compared to its average volume of 565,603. The stock has a market capitalization of $75.49 billion, a PE ratio of 75.59, a P/E/G ratio of 1.45 and a beta of 0.90. The business's 50 day moving average is $833.04 and its two-hundred day moving average is $854.59. The company has a quick ratio of 1.65, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the firm earned $9.22 earnings per share. Equinix's revenue was up 4.5% on a year-over-year basis. As a group, research analysts forecast 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 will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. Equinix's dividend payout ratio is currently 195.01%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EQIX shares. UBS Group cut their target price on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Barclays cut their target price on shares of Equinix from $837.00 to $798.00 and set an "equal weight" rating for the company in a research report on Friday, July 11th. Citigroup upped their target price on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Cowen restated a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Finally, Truist Financial cut their price target on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research report on Tuesday, July 1st. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, Equinix presently has an average rating of "Buy" and an average price target of $957.27.

Equinix Company 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.