Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Arthur M. Cohen & Associates LLC

Arthur M. Cohen & Associates LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 7.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,066 shares of the financial services provider’s stock after purchasing an additional 209 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Equinix were worth $2,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the 4th quarter worth $28,000. Kestra Investment Management LLC acquired a new position in shares of Equinix during the fourth quarter worth about $31,000. Whipplewood Advisors LLC increased its stake in shares of Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 23 shares during the period. Pacific Center for Financial Services grew its position in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after buying an additional 15 shares during the period. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Equinix in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EQIX. Wells Fargo & Company reduced their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Bank of America began coverage on shares of Equinix in a research note on Monday, May 19th. They issued a “buy” rating and a $1,000.00 target price on the stock. Scotiabank lowered their price target 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. BNP Paribas upgraded Equinix to a “strong-buy” rating in a research note on Thursday, May 1st. Finally, Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, twenty have given a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and a consensus target price of $1,004.80.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director now directly owns 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, the chief executive officer now owns 9,615 shares in the company, valued at $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

NASDAQ EQIX opened at $912.20 on Thursday. The stock has a market capitalization of $89.23 billion, a P/E ratio of 106.69, a P/E/G ratio of 1.78 and a beta of 0.97. The business’s fifty day moving average is $835.81 and its two-hundred day moving average is $890.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the company posted $8.86 earnings per share. Equinix’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors 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 dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio is currently 195.01%.

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.