Focus Partners Wealth Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Focus Partners Wealth raised its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 91.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,155 shares of the financial services provider's stock after purchasing an additional 1,028 shares during the period. Focus Partners Wealth's holdings in Equinix were worth $2,192,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Equinix during the fourth quarter worth about $1,067,270,000. Northern Trust Corp raised its position 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 worth $1,399,042,000 after purchasing an additional 586,034 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Equinix in the 4th quarter valued at approximately $328,899,000. Finally, Proficio Capital Partners LLC acquired a new stake in Equinix during the 4th quarter valued at $246,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now directly owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 215 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the transaction, the insider now directly owns 1,245 shares of the company's stock, valued at $1,157,513.85. This represents a 14.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,167 shares of company stock valued at $6,658,536 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Up 0.9%

Shares of EQIX stock opened at $867.24 on Friday. The stock has a market cap of $84.83 billion, a price-to-earnings ratio of 101.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm's 50 day moving average price is $824.67 and its two-hundred day moving average price is $893.06.

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, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. 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 previous year, the business posted $8.86 EPS. The business's quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio is presently 195.01%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EQIX. Oppenheimer upped their price objective on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Scotiabank decreased their price target on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 22nd. JMP Securities reiterated a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a report on Thursday, May 1st. Finally, Mizuho reduced their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research note on Friday, March 28th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $1,004.89.

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.

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