GAMMA Investing LLC Has $725.96 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

GAMMA Investing LLC lifted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 82,340.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 890,362 shares of the financial services provider's stock after buying an additional 889,282 shares during the quarter. GAMMA Investing LLC owned about 0.91% of Equinix worth $725,957,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Pinney & Scofield Inc. bought a new stake in Equinix during the 4th quarter worth about $28,000. Kestra Investment Management LLC acquired a new position in shares of Equinix in the 4th quarter valued at approximately $31,000. Pacific Center for Financial Services boosted its position in Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after acquiring an additional 15 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Equinix during the 4th quarter worth approximately $39,000. Finally, Sierra Ocean LLC acquired a new position in Equinix during the 4th quarter worth approximately $42,000. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

Equinix stock traded down $0.28 during midday trading on Tuesday, reaching $890.21. The company's stock had a trading volume of 133,921 shares, compared to its average volume of 522,872. 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 business has a 50-day moving average price of $832.24 and a 200-day moving average price of $890.56. The stock has a market cap of $87.08 billion, a PE ratio of 104.12, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

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

Equinix Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EQIX shares. Cowen reissued a "buy" rating on shares of Equinix in a report on Thursday, May 1st. New Street Research raised Equinix to a "strong-buy" rating in a report on Monday, April 28th. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective for the company in a report on Thursday, March 27th. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Finally, Barclays increased their price objective on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $1,004.80.

Insider Activity

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

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.