WESPAC Advisors SoCal LLC Purchases 643 Shares of Equinix, Inc. (NASDAQ:EQIX)

WESPAC Advisors SoCal LLC increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 62.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,676 shares of the financial services provider's stock after buying an additional 643 shares during the period. WESPAC Advisors SoCal LLC's holdings in Equinix were worth $1,367,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of EQIX. Pinney & Scofield Inc. acquired a new position in shares of Equinix in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC boosted its stake in Equinix by 127.8% during the 1st 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 boosted its stake in Equinix by 40.0% during 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 period. Pacific Center for Financial Services boosted its stake in Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 15 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in Equinix during the 4th quarter valued at about $49,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup boosted their target price on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Scotiabank dropped their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 26th. Stifel Nicolaus dropped their price target on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Barclays dropped their price target on shares of Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. Finally, Wolfe Research downgraded shares of Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $957.05.

Insider Buying and Selling at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider directly owned 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,176 shares of company stock worth $2,808,008. Company insiders own 0.27% of the company's stock.

Equinix Stock Up 1.5%

EQIX stock traded up $11.89 during trading hours on Friday, hitting $801.43. The company's stock had a trading volume of 482,648 shares, compared to its average volume of 645,269. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $78.40 billion, a PE ratio of 83.31, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The stock has a 50 day moving average price of $840.37 and a two-hundred day moving average price of $859.10.

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

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.34%. Equinix's payout ratio is presently 195.01%.

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.