Lbp Am Sa Increases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

LBP AM SA lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 60.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,513 shares of the financial services provider's stock after acquiring an additional 17,937 shares during the quarter. LBP AM SA's holdings in Equinix were worth $38,740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinney & Scofield Inc. bought a new stake in Equinix in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC increased its stake in shares of Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 23 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in shares of Equinix by 40.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 12 shares during the last quarter. Pacific Center for Financial Services raised its position in shares of Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 15 shares during the period. Finally, Park Square Financial Group LLC bought a new position in Equinix during the 4th quarter worth approximately $49,000. Institutional investors own 94.94% of the company's stock.

Insider Transactions at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of Equinix 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 directly owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the sale, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,176 shares of company stock worth $2,808,008. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

EQIX has been the subject of a number of recent analyst reports. Cfra Research cut shares of Equinix from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, June 26th. Guggenheim started coverage on Equinix in a research report on Thursday. They set a "buy" rating and a $933.00 price target on the stock. UBS Group cut their price objective on Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a report on Friday. Wells Fargo & Company lowered their target price on Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Finally, Bank of America reduced their price target on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $957.05.

Equinix Stock Performance

Equinix stock traded down $2.19 during trading hours on Friday, hitting $756.70. The company had a trading volume of 587,378 shares, compared to its average volume of 562,366. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market cap of $74.02 billion, a PE ratio of 78.66, a PEG ratio of 1.10 and a beta of 0.93. The firm has a 50-day moving average of $858.89 and a 200 day moving average of $870.72.

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 for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the company posted $8.86 EPS. The company's revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.48%. The ex-dividend date was Wednesday, May 21st. Equinix's payout ratio 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.