ProShare Advisors LLC Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

ProShare Advisors LLC boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,859 shares of the financial services provider's stock after buying an additional 1,316 shares during the quarter. ProShare Advisors LLC's holdings in Equinix were worth $17,782,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of EQIX. Kestra Investment Management LLC purchased a new position in Equinix during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in Equinix during the 4th quarter worth approximately $39,000. Sierra Ocean LLC purchased a new position in Equinix during the 4th quarter worth approximately $42,000. Thompson Investment Management Inc. purchased 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 during the 4th quarter valued at approximately $52,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider now owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,167 shares of company stock valued at $6,658,536. 0.27% of the stock is currently owned by insiders.

Equinix Trading Up 1.0%

Shares of EQIX opened at $875.92 on Friday. 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 firm's fifty day moving average is $825.46 and its two-hundred day moving average is $892.86. The stock has a market cap of $85.68 billion, a PE ratio of 102.45, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter in the previous year, the company posted $8.86 EPS. The firm's quarterly revenue was up 4.1% on a year-over-year basis. Research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.14%. Equinix's payout ratio is 195.01%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several recent research reports. Barclays lifted their target price on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Mizuho cut their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. Cowen reaffirmed a "buy" rating on shares of Equinix in a report on Thursday, May 1st. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Scotiabank cut their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 22nd. Two 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 company. Based on data from MarketBeat, Equinix currently has an average rating of "Buy" and an average price target of $1,004.89.

About Equinix

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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