Malaga Cove Capital LLC Invests $334,000 in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Malaga Cove Capital LLC has acquired a new stake in Equinix, Inc., purchasing 410 shares valued at approximately $334,000 during the first quarter.
• Equinix recently announced a quarterly dividend of $4.69 per share, with a dividend yield of 2.4% and a payout ratio of 183.74%.
• The company reported a significant earnings surprise with $9.91 EPS for the last quarter, beating estimates by $6.42 and showing a year-over-year revenue increase of 4.5%.

Malaga Cove Capital LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 410 shares of the financial services provider's stock, valued at approximately $334,000.

A number of other institutional investors and hedge funds have also modified their holdings of EQIX. Truist Financial Corp increased its position in Equinix by 8.2% during the first quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock worth $42,643,000 after buying an additional 3,981 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Equinix by 71.7% during the first quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock worth $60,690,000 after buying an additional 31,073 shares in the last quarter. First United Bank & Trust purchased a new position in Equinix during the first quarter worth $451,000. Miller Howard Investments Inc. NY increased its position in Equinix by 20.1% during the first quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock worth $3,150,000 after buying an additional 646 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in Equinix by 113.2% during the first quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock worth $14,639,000 after buying an additional 9,534 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction dated 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 directly owned 17,569 shares of the company's stock, valued at $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the firm's 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 completion of the transaction, the insider directly owned 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock valued at $2,808,008 over the last three months. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on EQIX. BNP Paribas raised Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. The Goldman Sachs Group dropped their price target on Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. TD Securities raised their price target on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Finally, Cowen restated a "buy" rating on shares of Equinix in a report on Thursday, July 3rd. Five 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $957.27.

Equinix Trading Up 0.1%

Equinix stock traded up $0.65 during midday trading on Tuesday, reaching $779.04. The stock had a trading volume of 41,484 shares, compared to its average volume of 640,165. The stock's 50-day simple moving average is $829.50 and its 200 day simple moving average is $851.97. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.54 and a current ratio of 1.54. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The stock has a market capitalization of $76.24 billion, a PE ratio of 76.21, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating the consensus estimate of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company posted $9.22 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. Analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given 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 dividend payout ratio (DPR) is 183.74%.

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.