Pathstone Holdings LLC Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Pathstone Holdings LLC increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,489 shares of the financial services provider's stock after purchasing an additional 512 shares during the quarter. Pathstone Holdings LLC's holdings in Equinix were worth $12,718,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Equinix during the 4th quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in shares of Equinix during the 4th quarter worth about $39,000. Sierra Ocean LLC bought a new position in shares of Equinix during the 4th quarter worth about $42,000. Thompson Investment Management Inc. bought a new position in shares of Equinix during the 4th quarter worth about $47,000. Finally, Cary Street Partners Financial LLC bought a new position in shares of Equinix during the 4th quarter worth about $52,000. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $1.65 during mid-day trading on Monday, reaching $877.57. 412,343 shares of the company were exchanged, compared to its average volume of 524,842. 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 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $85.84 billion, a PE ratio of 102.64, a PEG ratio of 1.78 and a beta of 0.97. The company's 50 day moving average price is $825.46 and its 200 day moving average price is $892.63.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company's revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $8.86 EPS. Sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a $4.69 dividend. 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 2.14%. Equinix's payout ratio is currently 195.01%.

Analyst Ratings Changes

A number of research firms recently weighed in on EQIX. Wolfe Research upgraded shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price on the stock in a report on Thursday, March 27th. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Scotiabank lowered their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 22nd. Oppenheimer upped their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, Barclays lifted their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $1,004.65.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the sale, the director now owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 2,454 shares of Equinix stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the sale, the chief financial officer now owns 24,402 shares of the company's stock, valued at $22,677,754.68. This trade represents a 9.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,267 shares of company stock valued at $6,745,477 in the last three months. 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.