Parcion Private Wealth LLC Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Parcion Private Wealth LLC increased its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,829 shares of the financial services provider's stock after buying an additional 343 shares during the period. Parcion Private Wealth LLC's holdings in Equinix were worth $5,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the 4th quarter valued at about $28,000. Pacific Center for Financial Services increased its stake in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after acquiring an additional 15 shares during the last quarter. Whipplewood Advisors LLC raised its position in Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 23 shares during the period. Cornerstone Planning Group LLC lifted 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 purchasing an additional 12 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Equinix in the 4th quarter worth approximately $49,000. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction 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 transaction, the director directly owned 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider owned 1,842 shares of the company's stock, valued at $1,616,723.40. This trade represents a 6.45% 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 worth $2,808,008 in the last quarter. 0.27% of the stock is owned by company insiders.

Equinix Price Performance

Equinix stock traded up $10.16 during midday trading on Thursday, reaching $775.80. The company had a trading volume of 283,160 shares, compared to its average volume of 563,461. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a market capitalization of $75.89 billion, a P/E ratio of 80.62, a P/E/G ratio of 1.29 and a beta of 0.93. The firm's fifty day simple moving average is $849.60 and its 200-day simple moving average is $865.56.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. Equinix's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.86 earnings per share. As a group, equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.42%. Equinix's dividend payout ratio (DPR) is 195.01%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EQIX. JMP Securities restated a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, June 26th. TD Securities raised their price target on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup boosted their price objective on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research report on Monday, May 5th. New Street Research raised shares of Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Truist Financial lowered their price target on Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a report on Tuesday, July 1st. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $957.05.

Equinix 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.