Xponance Inc. Has $11.91 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Xponance Inc. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,605 shares of the financial services provider's stock after purchasing an additional 333 shares during the quarter. Xponance Inc.'s holdings in Equinix were worth $11,908,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in Equinix in the 4th quarter valued at approximately $1,067,270,000. GAMMA Investing LLC raised its position in Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after buying an additional 889,282 shares during the last quarter. Northern Trust Corp raised its position in Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock valued at $1,399,042,000 after buying an additional 586,034 shares during the last quarter. Wellington Management Group LLP raised its position in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after buying an additional 401,991 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Equinix in the 4th quarter valued at approximately $205,641,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $756.70 on Friday. The stock has a market cap of $74.02 billion, a P/E ratio of 78.66, a PEG ratio of 1.28 and a beta of 0.93. The stock has a 50 day simple moving average of $856.50 and a 200 day simple moving average of $869.39. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results 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. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the company posted $8.86 EPS. The company's revenue was up 4.1% compared to the same quarter last year. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current 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 given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's payout ratio is currently 195.01%.

Insider Buying and Selling

In related news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction 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. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,176 shares of company stock worth $2,808,008. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lowered Equinix from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Bank of America dropped their target price on Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Mizuho decreased their price target on Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a research note on Tuesday, July 1st. Citigroup raised their price target on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $957.05.

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.

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.