Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Wendell David Associates Inc.

Wendell David Associates Inc. grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,332 shares of the financial services provider’s stock after buying an additional 231 shares during the period. Wendell David Associates Inc.’s holdings in Equinix were worth $3,532,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Rothschild Investment LLC increased its stake in Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after buying an additional 11 shares during the period. Legacy Financial Advisors Inc. boosted its position in Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 11 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 12 shares in the last quarter. First Financial Bankshares Inc increased its position in Equinix by 0.5% in the 4th quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider’s stock worth $2,329,000 after purchasing an additional 13 shares during the last quarter. Finally, Nemes Rush Group LLC raised its stake in shares of Equinix by 18.3% during the 4th quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 13 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Performance

EQIX opened at $888.15 on Tuesday. The stock’s 50 day simple moving average is $854.82 and its 200-day simple moving average is $887.14. 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 stock has a market cap of $86.88 billion, a PE ratio of 103.88, 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.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (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 analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.86 EPS. Sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current 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 paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio is 195.01%.

Insider Activity at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the transaction, the director now directly owns 17,569 shares of the company’s stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the sale, the chief executive officer now owns 9,615 shares in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock valued at $2,808,008 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EQIX shares. Cfra Research raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Barclays lifted their price objective on shares of Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 27th. 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 research report on Tuesday, April 22nd. Stifel Nicolaus raised their target price on Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, New Street Research upgraded Equinix to a “strong-buy” rating in a report on Monday, April 28th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have issued a strong buy rating to the company. Based on data from MarketBeat.com, Equinix has a consensus rating of “Buy” and a consensus target price of $1,004.80.

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.