660 Shares in Equinix, Inc. (NASDAQ:EQIX) Acquired by Net Worth Advisory Group

Net Worth Advisory Group bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 660 shares of the financial services provider’s stock, valued at approximately $538,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Pinney & Scofield Inc. bought a new stake in shares of Equinix in the 4th quarter worth $28,000. Kestra Investment Management LLC acquired a new position in Equinix during the fourth quarter worth about $31,000. Pacific Center for Financial Services grew its holdings 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 acquiring an additional 15 shares during the period. Whipplewood Advisors LLC raised its position in Equinix by 127.8% in 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 in the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in Equinix in the fourth quarter worth about $39,000. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $893.70 on Thursday. The firm has a market cap of $87.42 billion, a price-to-earnings ratio of 104.53, a P/E/G ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The business has a fifty day simple moving average of $845.84 and a 200 day simple moving average of $890.18.

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

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s payout ratio is presently 195.01%.

Insider Buying and Selling at Equinix

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

Analyst Ratings Changes

Several brokerages have recently issued reports on EQIX. Barclays lifted their price objective on shares of Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 27th. Truist Financial dropped their price target on Equinix from $990.00 to $986.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Cowen reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, May 1st. Citigroup lifted their price target on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, TD Securities boosted their price objective on Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $1,004.80.

Equinix Company 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.