Y Intercept Hong Kong Ltd Purchases New Position in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new position in Equinix, purchasing 1,018 shares valued at approximately $830,000 during the first quarter.
• Equinix reported $9.67 EPS for its latest quarter, surpassing analysts' expectations of $9.01, with a revenue of $2.23 billion.
• The company recently declared a quarterly dividend of $4.69, with an annualized payout of $18.76, reflecting a yield of 2.34% despite a high dividend payout ratio of 195.01%.

Y Intercept Hong Kong Ltd purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,018 shares of the financial services provider's stock, valued at approximately $830,000.

A number of other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Equinix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after buying an additional 62,005 shares in the last quarter. FMR LLC lifted its stake in shares of Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after buying an additional 81,144 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Equinix by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock valued at $1,793,429,000 after buying an additional 14,294 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 valued at $1,701,188,000 after buying an additional 401,991 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Equinix by 65.3% during 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 in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of Equinix stock opened at $801.43 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The business's 50 day simple moving average is $838.88 and its two-hundred day simple moving average is $858.14. The stock has a market capitalization of $78.40 billion, a P/E ratio of 83.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. The business 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%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $8.86 EPS. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EQIX. The Goldman Sachs Group decreased their target price on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a report on Thursday, May 1st. New Street Research raised shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Truist Financial decreased their target price on shares of Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a report on Tuesday, July 1st. Finally, BMO Capital Markets lowered shares of Equinix from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $1,045.00 to $850.00 in a report on Thursday, June 26th. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $957.05.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated 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 sale, the director directly owned 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,176 shares of company stock worth $2,808,008. 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.

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