Net Worth Advisory Group Makes New $538,000 Investment in Equinix, Inc. (NASDAQ:EQIX)

Net Worth Advisory Group bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 660 shares of the financial services provider's stock, valued at approximately $538,000.

Several other large investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its holdings in Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock worth $7,946,000 after acquiring an additional 3,212 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after acquiring an additional 2,560 shares in the last quarter. National Pension Service lifted its holdings in shares of Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock worth $229,263,000 after buying an additional 3,164 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock worth $2,361,000 after buying an additional 404 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Equinix by 20.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock valued at $93,807,000 after purchasing an additional 17,084 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $3.78 on Friday, reaching $892.64. 502,420 shares of the company's stock were exchanged, compared to its average volume of 527,259. The business's 50-day moving average is $851.86 and its two-hundred day moving average is $888.43. The firm has a market capitalization of $87.32 billion, a price-to-earnings ratio of 104.40, a PEG ratio of 1.78 and a beta of 0.97. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the company posted $8.86 earnings per share. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.10%. Equinix's dividend payout ratio (DPR) is 195.01%.

Analyst Ratings Changes

Several brokerages have recently issued reports on EQIX. Bank of America started coverage on Equinix in a research note on Monday, May 19th. They set a "buy" rating and a $1,000.00 price target on the stock. Mizuho dropped their price objective on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. Stifel Nicolaus boosted their price objective on Equinix from $1,030.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Barclays upped their price target on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Finally, Citigroup boosted their price objective on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $1,004.80.

Insider Activity

In related news, Director Christopher B. Paisley sold 100 shares of Equinix 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 completion of the sale, the director now owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of Equinix 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 transaction, the insider now directly owns 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is owned by company insiders.

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.