6,496 Shares in Equinix, Inc. (NASDAQ:EQIX) Purchased by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT acquired 6,496 shares of Equinix, Inc. valued at approximately $5.3 million during the first quarter.
• Recent insider trading includes Director Christopher B. Paisley selling 100 shares, and CEO Adaire Fox-Martin selling 2,949 shares, reducing their stakes in the company.
• Equinix announced a quarterly dividend of $4.69 per share, with a yield of 2.4%, set for distribution on September 17th.

Zions Bancorporation National Association UT acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,496 shares of the financial services provider's stock, valued at approximately $5,297,000.

Other hedge funds have also bought and sold shares of the company. Truist Financial Corp lifted its stake in Equinix by 8.2% in the first quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock worth $42,643,000 after acquiring an additional 3,981 shares during the period. Nisa Investment Advisors LLC lifted its stake in Equinix by 71.7% in the first quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock worth $60,690,000 after acquiring an additional 31,073 shares during the period. First United Bank & Trust purchased a new stake in shares of Equinix during the first quarter valued at about $451,000. Miller Howard Investments Inc. NY boosted its holdings in shares of Equinix by 20.1% in the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock valued at $3,150,000 after buying an additional 646 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Equinix by 113.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock valued at $14,639,000 after buying an additional 9,534 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Shares of Equinix stock traded up $0.55 on Monday, hitting $776.75. The company's stock had a trading volume of 311,785 shares, compared to its average volume of 522,996. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average price of $820.97 and a 200-day moving average price of $847.72. The company has a market capitalization of $76.01 billion, a P/E ratio of 76.08, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the firm earned $9.22 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix's dividend payout ratio (DPR) is presently 183.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cowen restated a "buy" rating on shares of Equinix in a report on Thursday, July 3rd. Dbs Bank upgraded shares of Equinix to a "moderate buy" rating in a report on Wednesday, August 6th. Cfra Research cut shares of Equinix from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 31st. Wells Fargo & Company lowered their price target on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Finally, TD Securities increased their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Five 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.com, the company currently has a consensus rating of "Buy" and a consensus target price of $959.86.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director directly owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated 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 directly owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Equinix Company 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.