PFG Advisors Has $1.15 Million Stake in Equinix, Inc. $EQIX

Key Points

• PFG Advisors cut its Equinix stake by 46.5%, selling 1,307 shares and finishing the quarter with 1,501 shares valued at about $1.15 million, while institutional investors collectively own roughly 94.94% of the stock.
• Insiders have sold a total of 6,380 shares (~$6.18 million) in the past three months—including transactions by Jonathan Lin and Brandi Galvin Morandi—leaving insiders with about 0.27% ownership.
• Equinix raised its quarterly dividend to $5.16 (annualized $20.64, ~1.9% yield), and analysts hold a "Moderate Buy" consensus with an average price target near $1,056.35.

PFG Advisors trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 46.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,501 shares of the financial services provider's stock after selling 1,307 shares during the period. PFG Advisors' holdings in Equinix were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. increased its holdings in Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 26 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 13 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Equinix during the 3rd quarter valued at $37,000. Finally, Westside Investment Management Inc. increased its holdings in Equinix by 65.6% during the 3rd quarter. Westside Investment Management Inc. now owns 53 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 21 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In related news, insider Jonathan Lin sold 635 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total transaction of $613,225.85. Following the sale, the insider owned 10,788 shares of the company's stock, valued at approximately $10,418,079.48. This trade represents a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 424 shares of the firm's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $1,020.00, for a total value of $432,480.00. Following the sale, the insider directly owned 9,970 shares in the company, valued at $10,169,400. The trade was a 4.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,380 shares of company stock worth $6,179,022 in the last three months. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on EQIX. Wells Fargo & Company increased their price objective on Equinix from $975.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Tuesday. Sanford C. Bernstein began coverage on Equinix in a research report on Thursday, March 5th. They issued an "outperform" rating and a $1,128.00 price objective on the stock. TD Cowen reiterated a "buy" rating on shares of Equinix in a research report on Thursday, February 12th. Jefferies Financial Group increased their price objective on Equinix from $950.00 to $1,000.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $1,100.00 and gave the company an "overweight" rating in a research report on Thursday, February 12th. Five equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equinix has an average rating of "Moderate Buy" and an average price target of $1,056.35.

Equinix Stock Performance

Shares of Equinix stock opened at $1,102.28 on Thursday. The company has a market capitalization of $108.71 billion, a PE ratio of 80.17, a PEG ratio of 2.79 and a beta of 1.01. Equinix, Inc. has a 12 month low of $710.52 and a 12 month high of $1,108.19. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The stock's fifty day simple moving average is $986.99 and its 200 day simple moving average is $858.96.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $7.92 EPS. On average, research analysts predict that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were paid a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a boost from Equinix's previous quarterly dividend of $4.69. Equinix's dividend payout ratio (DPR) is 150.11%.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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