Smithbridge Asset Management Inc. DE Purchases Shares of 1,257 Equinix, Inc. (NASDAQ:EQIX)

Smithbridge Asset Management Inc. DE acquired a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,257 shares of the financial services provider's stock, valued at approximately $1,025,000.

Several other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Equinix during the 4th quarter worth about $1,067,270,000. GAMMA Investing LLC grew its holdings in Equinix by 82,340.9% during the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after acquiring an additional 889,282 shares during the period. Northern Trust Corp grew its holdings in Equinix by 65.3% during the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the period. Wellington Management Group LLP grew its holdings in Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after acquiring an additional 401,991 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Equinix during the 4th quarter worth about $328,899,000. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on EQIX. BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Scotiabank cut their price target on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 22nd. TD Securities lifted their price target on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Cowen reiterated a "buy" rating on shares of Equinix in a research note on Thursday, May 1st. Finally, Truist Financial cut their price target on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $1,004.80.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $3.78 during mid-day trading on Friday, reaching $892.64. The company had a trading volume of 502,420 shares, compared to its average volume of 526,252. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The firm has a market cap 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 current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company's 50-day moving average price is $848.81 and its 200-day moving average price is $889.65.

Equinix (NASDAQ:EQIX - Get Free Report) last issued 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 business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.86 EPS. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders 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 dividend yield of 2.10%. Equinix's dividend payout ratio (DPR) is currently 195.01%.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares of the company's stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 in the last three months. Corporate insiders own 0.27% of the company's stock.

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.