GF Fund Management CO. LTD. Acquires Shares of 1,725 Equinix, Inc. (NASDAQ:EQIX)

GF Fund Management CO. LTD. bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,725 shares of the financial services provider's stock, valued at approximately $1,626,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 17.9% in 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 in the last quarter. Mutual Advisors LLC raised its position in Equinix by 14.5% during the fourth quarter. Mutual Advisors LLC now owns 788 shares of the financial services provider's stock valued at $725,000 after buying an additional 100 shares during the period. Montecito Bank & Trust lifted its stake in Equinix by 3.1% in the 4th quarter. Montecito Bank & Trust now owns 436 shares of the financial services provider's stock worth $411,000 after acquiring an additional 13 shares in the last quarter. Brighton Jones LLC boosted its position in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after acquiring an additional 73 shares during the period. Finally, RFG Advisory LLC boosted its position in Equinix by 4.7% during the 4th quarter. RFG Advisory LLC now owns 335 shares of the financial services provider's stock worth $316,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity

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

Equinix Stock Performance

Shares of EQIX traded down $1.66 during trading hours on Friday, reaching $885.77. 108,384 shares of the company traded hands, compared to its average volume of 523,315. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The stock has a market cap of $86.64 billion, a P/E ratio of 103.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The stock's fifty day moving average is $830.09 and its 200 day moving average is $890.83. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share 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 return on equity of 6.31% and a net margin of 9.32%. Equinix's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $8.86 EPS. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's payout ratio is 195.01%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cowen reiterated a "buy" rating on shares of Equinix in a report on Thursday, May 1st. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Barclays lifted their target price on shares of Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research note on Tuesday. Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Finally, Scotiabank reduced their price objective on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $1,004.80.

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.