North Star Asset Management Inc. acquired a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 290 shares of the financial services provider's stock, valued at approximately $273,000.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Equinix by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock worth $11,941,418,000 after buying an additional 88,654 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Equinix by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock worth $2,269,037,000 after acquiring an additional 62,005 shares during the last quarter. FMR LLC lifted its holdings in shares of Equinix by 3.7% in the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after acquiring an additional 81,144 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after purchasing an additional 44,471 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Equinix by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock valued at $1,793,429,000 after purchasing an additional 14,294 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have weighed in on EQIX. Mizuho cut their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. JMP Securities reissued a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a report on Friday, May 23rd. Wolfe Research upgraded Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a research report on Thursday, March 27th. Wells Fargo & Company cut their price target on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and six have issued a strong buy rating to the company's stock. According to data from MarketBeat, Equinix presently has an average rating of "Buy" and an average price target of $1,004.80.
Check Out Our Latest Report on EQIX
Equinix Trading Down 0.2%
Shares of Equinix stock traded down $1.66 on Friday, reaching $885.77. 108,384 shares of the company's stock were exchanged, compared to its average volume of 523,315. The company has a market capitalization of $86.64 billion, a P/E ratio of 103.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm's 50-day moving average is $830.09 and its two-hundred day moving average is $890.83.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm earned $8.86 earnings per share. Equinix's revenue was up 4.1% on a year-over-year basis. Sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.
Equinix Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's payout ratio is 195.01%.
Insider Activity at Equinix
In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director now owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.
Equinix Company Profile
(
Free Report)
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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