3Chopt Investment Partners LLC Invests $652,000 in Equinix, Inc. (NASDAQ:EQIX)

3Chopt Investment Partners LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 800 shares of the financial services provider’s stock, valued at approximately $652,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after purchasing an additional 88,654 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Equinix by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock valued at $2,269,037,000 after buying an additional 62,005 shares in the last quarter. FMR LLC grew its position in shares of Equinix by 3.7% in the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock valued at $2,135,606,000 after buying an additional 81,144 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Equinix by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider’s stock worth $1,793,429,000 after acquiring an additional 14,294 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated 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 of the company’s stock, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,176 shares of company stock worth $2,808,008. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of several research reports. Truist Financial dropped their price objective on Equinix from $990.00 to $986.00 and set a “buy” rating on the stock in a report on Monday, May 12th. New Street Research upgraded Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Wells Fargo & Company lowered their target price on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating on the stock in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday. Finally, Scotiabank decreased their price target on shares of Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and six have given a strong buy rating to the stock. According to MarketBeat, Equinix currently has a consensus rating of “Buy” and an average target price of $977.30.

Equinix Price Performance

EQIX stock opened at $785.11 on Friday. The firm has a 50 day moving average of $867.26 and a 200-day moving average of $881.19. The company has a market cap of $76.80 billion, a price-to-earnings ratio of 81.61, a PEG ratio of 0.97 and a beta of 0.97. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a 12-month low of $701.41 and a 12-month 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 the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. Equinix’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $8.86 earnings per share. As a group, equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix’s 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.