Western Wealth Management LLC Buys Shares of 917 Equinix, Inc. (NASDAQ:EQIX)

Western Wealth Management LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 917 shares of the financial services provider's stock, valued at approximately $748,000.

A number of other hedge funds have also modified their holdings of EQIX. Pinney & Scofield Inc. bought a new position in shares of Equinix during the fourth quarter worth $28,000. Whipplewood Advisors LLC boosted its position in shares of Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after acquiring an additional 23 shares during the last quarter. Pacific Center for Financial Services boosted its position in shares of 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. J.Safra Asset Management Corp bought a new position in shares of Equinix during the fourth quarter worth $39,000. Finally, Park Square Financial Group LLC bought a new position in shares of Equinix during the fourth quarter worth $49,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Up 5.3%

Shares of Equinix stock traded up $39.58 during trading on Friday, hitting $785.11. The stock had a trading volume of 2,193,059 shares, compared to its average volume of 552,695. The firm's fifty day simple moving average is $867.26 and its 200-day simple moving average is $881.19. The stock has a market cap of $76.80 billion, a PE ratio of 81.61, a PEG ratio of 0.97 and a beta of 0.97. 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.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly 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 company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $8.86 EPS. As a group, sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio is presently 195.01%.

Analyst Ratings Changes

EQIX has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research report on Monday, May 12th. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Bank of America lowered their price objective on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research report on Thursday. JMP Securities reiterated a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday. Finally, BMO Capital Markets lowered shares of Equinix from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $1,045.00 to $850.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $977.30.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction dated 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 now owns 17,569 shares of the company's stock, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock valued at $2,808,008 in the last 90 days. Company insiders own 0.27% of the company's stock.

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.