Great Lakes Retirement Inc. Acquires 84 Shares of Equinix, Inc. (NASDAQ:EQIX)

Great Lakes Retirement Inc. increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,059 shares of the financial services provider’s stock after purchasing an additional 84 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Equinix were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Rothschild Investment LLC boosted its holdings in shares of Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. lifted 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 period. Lake Street Advisors Group LLC raised its stake in Equinix by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after buying an additional 12 shares during the last quarter. First Financial Bankshares Inc lifted its holdings in shares of Equinix by 0.5% during the 4th quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider’s stock valued at $2,329,000 after buying an additional 13 shares during the period. Finally, Nemes Rush Group LLC boosted its stake in shares of Equinix by 18.3% in the 4th quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider’s stock worth $79,000 after buying an additional 13 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on EQIX. New Street Research upgraded Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Stifel Nicolaus increased their price objective on shares of Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. 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 research report on Friday, March 28th. Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, May 1st. Finally, Bank of America began coverage on shares of Equinix in a research note on Monday, May 19th. They set a “buy” rating and a $1,000.00 price target on the stock. Three equities research 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 company. Based on data from MarketBeat, Equinix currently has an average rating of “Buy” and a consensus target price of $1,004.80.

Equinix Stock Performance

EQIX opened at $888.15 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $86.88 billion, a price-to-earnings ratio of 103.88, a PEG ratio of 1.78 and a beta of 0.97. The company has a fifty day moving average of $854.82 and a 200 day moving average of $887.14. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating 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 business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm earned $8.86 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced 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 2.11%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Insider Buying and Selling

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

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.