First United Bank & Trust Buys New Position in Equinix, Inc. (NASDAQ:EQIX)

First United Bank & Trust purchased a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 553 shares of the financial services provider's stock, valued at approximately $451,000.

Several other hedge funds also recently added to or reduced their stakes in EQIX. Pinney & Scofield Inc. purchased a new position in Equinix in the fourth quarter valued at approximately $28,000. Kestra Investment Management LLC purchased a new position in Equinix in the fourth quarter valued at approximately $31,000. Whipplewood Advisors LLC increased its stake in 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 purchasing an additional 23 shares during the last quarter. Pacific Center for Financial Services increased its stake in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 15 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in shares of Equinix during the fourth quarter worth approximately $39,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the sale, the chief executive officer now directly owns 9,615 shares in the company, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 $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 have sold 3,176 shares of company stock worth $2,808,008 in the last three months. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of research reports. Mizuho lowered their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. Cowen restated a "buy" rating on shares of Equinix in a research report on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Finally, Wolfe Research lowered shares of Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $1,004.80.

Equinix Price Performance

Shares of NASDAQ EQIX traded down $3.78 during trading on Friday, hitting $892.64. 502,420 shares of the company were exchanged, compared to its average volume of 527,259. The company has a market cap of $87.32 billion, a price-to-earnings ratio of 104.40, a PEG ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The firm's fifty day moving average price is $851.86 and its 200 day moving average price is $888.43. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its 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 company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $8.86 EPS. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.10%. Equinix's dividend payout ratio is presently 195.01%.

Equinix 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.