First United Bank & Trust Makes New $451,000 Investment in Equinix, Inc. (NASDAQ:EQIX)

First United Bank & Trust bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 553 shares of the financial services provider's stock, valued at approximately $451,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rothschild Investment LLC raised its holdings in shares of Equinix by 1.9% during the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock worth $543,000 after purchasing an additional 11 shares during the period. Legacy Financial Advisors Inc. increased its holdings in shares of Equinix by 3.2% in the 4th 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 during the period. Great Lakes Retirement Inc. increased its holdings in shares of Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after acquiring an additional 12 shares during the period. Lake Street Advisors Group LLC increased its holdings in shares of Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock worth $713,000 after acquiring an additional 12 shares during the period. Finally, First Financial Bankshares Inc increased its holdings in shares of Equinix by 0.5% in the 4th quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider's stock worth $2,329,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on EQIX. BNP Paribas upgraded shares of Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. Wolfe Research lowered shares of Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday. TD Securities raised their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. BMO Capital Markets reduced their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $1,004.80.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now owns 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Pletcher sold 127 shares of the company'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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $2.72 on Thursday, hitting $896.42. The stock had a trading volume of 493,898 shares, compared to its average volume of 525,707. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm's 50 day moving average price is $845.84 and its 200-day moving average price is $890.18. The company has a market capitalization of $87.69 billion, a price-to-earnings ratio of 104.84, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

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, beating the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm's revenue for the quarter 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, equities research analysts predict 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. Investors of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.09%. Equinix's dividend payout ratio (DPR) is 195.01%.

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.