490 Shares in Equinix, Inc. (NASDAQ:EQIX) Purchased by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 490 shares of the financial services provider's stock, valued at approximately $462,000.

Several other large investors have also recently made changes to their positions in EQIX. JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Brighton Jones LLC increased its position in shares of Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 73 shares in the last quarter. RFG Advisory LLC increased its position in shares of Equinix by 4.7% during the fourth quarter. RFG Advisory LLC now owns 335 shares of the financial services provider's stock valued at $316,000 after acquiring an additional 15 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Equinix by 7.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 371 shares of the financial services provider's stock valued at $350,000 after acquiring an additional 27 shares in the last quarter. Finally, Drive Wealth Management LLC increased its position in shares of Equinix by 5.7% during the fourth quarter. Drive Wealth Management LLC now owns 447 shares of the financial services provider's stock valued at $422,000 after acquiring an additional 24 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of EQIX traded up $1.65 during trading hours on Friday, reaching $889.08. 973,117 shares of the stock traded hands, compared to its average volume of 527,302. The company has a market cap of $86.97 billion, a P/E ratio of 103.99, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company's 50-day moving average price is $830.09 and its two-hundred day moving average price is $890.83.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.86 EPS. On average, analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's payout ratio is currently 195.01%.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction dated 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 now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of several analyst reports. Mizuho reduced their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research report on Friday, March 28th. Truist Financial reduced their price target on shares of Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Barclays raised their price target on shares of Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research report on Tuesday. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a research report on Thursday, March 27th. Finally, Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $1,004.80.

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.