Metis Global Partners LLC Has $23.07 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Metis Global Partners LLC increased its stake in Equinix by 13.9% during Q1, acquiring an additional 3,458 shares and holding a total of 28,296 shares, valued at approximately $23 million.
• Equinix reported earnings of $9.67 per share for the latest quarter, exceeding estimates, with revenues reaching $2.23 billion, which marks a 4.1% increase year-over-year.
• The company announced a quarterly dividend of $4.69 per share, equating to an annualized yield of 2.34%, though the dividend payout ratio is notably high at 195.01%.

Metis Global Partners LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 13.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 28,296 shares of the financial services provider's stock after acquiring an additional 3,458 shares during the period. Equinix makes up approximately 0.6% of Metis Global Partners LLC's holdings, making the stock its 24th largest holding. Metis Global Partners LLC's holdings in Equinix were worth $23,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new stake in Equinix during the 4th quarter worth approximately $28,000. Pacific Center for Financial Services increased its holdings 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 last quarter. Whipplewood Advisors LLC increased its holdings 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 holdings 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. Finally, Park Square Financial Group LLC bought a new stake in shares of Equinix in the 4th quarter valued at approximately $49,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction 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 transaction, the insider owned 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm's 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 owned 17,569 shares in the company, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock valued at $2,808,008 over the last 90 days. 0.27% of the stock is currently owned by insiders.

Equinix Trading Down 1.0%

Shares of Equinix stock traded down $7.85 during trading on Thursday, reaching $789.19. 524,330 shares of the company were exchanged, compared to its average volume of 643,175. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The business has a 50-day moving average price of $834.66 and a 200-day moving average price of $855.38. The firm has a market capitalization of $77.20 billion, a price-to-earnings ratio of 81.80, a P/E/G ratio of 1.50 and a beta of 0.93.

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, topping the consensus estimate of $3.49 by $6.42. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $9.22 earnings per share. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.38%. Equinix's payout ratio is presently 195.01%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EQIX. TD Securities upped their price objective on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Guggenheim began coverage on Equinix in a research note on Thursday, July 10th. They set a "buy" rating and a $933.00 target price for the company. Mizuho decreased their target price on Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a research note on Tuesday, July 1st. Wolfe Research cut Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Bank of America decreased their target price on Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Equinix has a consensus rating of "Buy" and a consensus price target of $957.05.

About Equinix

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.