Rice Partnership LLC Acquires 476 Shares of Equinix, Inc. (NASDAQ:EQIX)

Rice Partnership LLC boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,965 shares of the financial services provider's stock after acquiring an additional 476 shares during the period. Rice Partnership LLC's holdings in Equinix were worth $4,864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First United Bank & Trust purchased a new stake in Equinix during the 1st quarter worth about $451,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Equinix by 20.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock worth $93,807,000 after purchasing an additional 17,084 shares in the last quarter. Miller Howard Investments Inc. NY lifted its holdings in Equinix by 20.1% during the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock worth $3,150,000 after purchasing an additional 646 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its holdings in Equinix by 0.8% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 51,045 shares of the financial services provider's stock worth $41,620,000 after purchasing an additional 413 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its holdings in Equinix by 72.0% during the 1st quarter. CWA Asset Management Group LLC now owns 399 shares of the financial services provider's stock worth $325,000 after purchasing an additional 167 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

Shares of NASDAQ EQIX traded down $7.65 during trading hours on Friday, reaching $787.50. 539,869 shares of the stock traded hands, compared to its average volume of 557,706. The company has a market capitalization of $77.03 billion, a P/E ratio of 81.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.93. 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 52-week low of $701.41 and a 52-week high of $994.03. The company's 50-day simple moving average is $865.90 and its two-hundred day simple moving average is $874.82.

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 for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. Equinix's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $8.86 EPS. Equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.38%. Equinix's payout ratio is 195.01%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. 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 ninety days. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of recent research reports. Cfra Research cut Equinix from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, June 26th. Truist Financial lowered their price target on Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a report on Tuesday, July 1st. Cowen reaffirmed a "buy" rating on shares of Equinix in a report on Thursday. Mizuho lowered their price target on Equinix from $1,069.00 to $900.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Finally, New Street Research raised Equinix to a "strong-buy" rating in a report on Monday, April 28th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $960.55.

Equinix Company 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.