Kestra Private Wealth Services LLC Boosts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Kestra Private Wealth Services LLC boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 50.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,124 shares of the financial services provider's stock after buying an additional 377 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Equinix were worth $916,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in Equinix in the fourth quarter worth $28,000. Whipplewood Advisors LLC boosted its holdings 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 acquiring an additional 23 shares in the last quarter. Cornerstone Planning Group LLC boosted 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 worth $34,000 after buying an additional 12 shares in the last quarter. Pacific Center for Financial Services lifted its position in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 15 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of Equinix during the fourth quarter worth $49,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Up 1.5%

Shares of EQIX traded up $11.89 during midday trading on Friday, hitting $801.43. The stock had a trading volume of 482,660 shares, compared to its average volume of 645,271. The company has a 50 day simple moving average of $840.37 and a two-hundred day simple moving average of $859.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market cap of $78.40 billion, a price-to-earnings ratio of 83.31, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03.

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

Equinix Dividend Announcement

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

Insider Activity

In related news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider owned 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,176 shares of company stock worth $2,808,008. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EQIX. Cowen restated a "buy" rating on shares of Equinix in a report on Thursday, July 3rd. New Street Research raised shares of Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Citigroup upped their price target on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. TD Securities raised their target price on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, UBS Group reduced their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a report on Friday, July 11th. Four equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus 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.