Stevens Capital Management LP Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Stevens Capital Management LP bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 744 shares of the financial services provider’s stock, valued at approximately $599,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Abbrea Capital LLC acquired a new stake in shares of Equinix in the fourth quarter valued at about $206,000. Syon Capital LLC increased its stake in shares of Equinix by 9.1% in the fourth quarter. Syon Capital LLC now owns 517 shares of the financial services provider’s stock valued at $416,000 after buying an additional 43 shares during the period. Lyell Wealth Management LP boosted its position in shares of Equinix by 23.2% during the 4th quarter. Lyell Wealth Management LP now owns 4,244 shares of the financial services provider’s stock valued at $3,418,000 after purchasing an additional 798 shares in the last quarter. Sycomore Asset Management boosted its position in shares of Equinix by 20.4% during the 4th quarter. Sycomore Asset Management now owns 9,916 shares of the financial services provider’s stock valued at $8,001,000 after purchasing an additional 1,679 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in Equinix by 3.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,206 shares of the financial services provider’s stock worth $1,777,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the transaction, the chairman now directly owns 7,968 shares in the company, valued at $6,622,364.16. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock worth $3,818,268 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ:EQIX traded down $18.49 on Thursday, reaching $738.35. 812,622 shares of the company’s stock traded hands, compared to its average volume of 568,639. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a 50-day simple moving average of $828.73 and a 200-day simple moving average of $803.06. The firm has a market cap of $69.86 billion, a PE ratio of 73.41, a P/E/G ratio of 1.97 and a beta of 0.58. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.31%. Equinix’s dividend payout ratio is currently 165.28%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Wolfe Research raised Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Morgan Stanley lowered their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Oppenheimer increased their price objective on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada increased their price target on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $862.50.

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.