Napa Wealth Management Makes New $1 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

Napa Wealth Management purchased a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,063 shares of the financial services provider's stock, valued at approximately $1,002,000.

Several other large investors have also recently modified their holdings of the stock. Kestra Investment Management LLC bought a new stake in Equinix during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new stake in shares of Equinix in the fourth quarter worth about $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix during the 4th quarter worth approximately $42,000. Thompson Investment Management Inc. bought a new position in shares of Equinix during the 4th quarter valued at approximately $47,000. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Equinix in the 4th quarter worth $52,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded up $8.03 during midday trading on Thursday, reaching $867.24. The company's stock had a trading volume of 429,250 shares, compared to its average volume of 525,445. The firm has a market capitalization of $84.83 billion, a PE ratio of 101.43, a P/E/G ratio of 1.78 and a beta of 0.97. The stock has a fifty day moving average of $824.67 and a 200 day moving average of $893.06. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. 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 (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $8.86 earnings per share. On average, equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a "buy" rating in a report on Thursday, May 1st. BNP Paribas raised Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. Oppenheimer lifted their target price on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a report on Monday, January 27th. Finally, Cfra Research raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $1,004.89.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 3,562 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total value of $3,309,240.48. Following the transaction, the chairman now directly owns 15,513 shares in the company, valued at $14,412,197.52. The trade was a 18.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now directly owns 1,842 shares in the company, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,167 shares of company stock worth $6,658,536. Corporate 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.