Headlands Technologies LLC Buys Shares of 4,163 Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Headlands Technologies LLC acquired 4,163 shares of Equinix, Inc., valued at approximately $3.39 million, signaling confidence in the company's stock.
• Equinix reported earnings per share of $9.91 for the last quarter, significantly beating estimates, with a revenue of $2.26 billion.
• The company declared a quarterly dividend of $4.69, with an annualized yield of 2.4%, despite having a high payout ratio of 183.74%.

Headlands Technologies LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,163 shares of the financial services provider's stock, valued at approximately $3,394,000.

A number of other hedge funds have also made changes to their positions in the stock. Pinney & Scofield Inc. purchased a new stake in Equinix in the 4th quarter worth approximately $28,000. Pacific Center for Financial Services raised its holdings in shares of Equinix by 65.2% during the fourth 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 in the last quarter. Whipplewood Advisors LLC boosted its position in Equinix by 127.8% during 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. Cornerstone Planning Group LLC grew its stake in Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 12 shares in the last quarter. Finally, Tidemark LLC increased its position in Equinix by 57.1% in the 1st quarter. Tidemark LLC now owns 44 shares of the financial services provider's stock worth $36,000 after purchasing an additional 16 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

EQIX opened at $773.00 on Thursday. The stock's 50 day simple moving average is $825.39 and its 200-day simple moving average is $850.93. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The stock has a market cap of $75.65 billion, a PE ratio of 75.71, a P/E/G ratio of 1.26 and a beta of 0.90. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, beating analysts' consensus estimates of $3.49 by $6.42. The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.22 earnings per share. Sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be paid a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $18.76 annualized dividend and a yield of 2.4%. Equinix's payout ratio is currently 183.74%.

Insider Buying and Selling at Equinix

In other Equinix news, 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 transaction of $86,941.00. Following the completion of the transaction, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the sale, the chief executive officer owned 9,615 shares of the company's stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Cowen reissued a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. Scotiabank decreased their target price on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 26th. TD Securities raised their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, UBS Group reduced their price target on Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Five analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $957.27.

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.

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