Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Oak Ridge Investments LLC

Oak Ridge Investments LLC raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.8% in the first quarter, HoldingsChannel reports. The firm owned 8,199 shares of the financial services provider’s stock after acquiring an additional 662 shares during the period. Oak Ridge Investments LLC’s holdings in Equinix were worth $6,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. GAMMA Investing LLC boosted its stake in Equinix by 82,340.9% during the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock valued at $725,957,000 after purchasing an additional 889,282 shares during the period. Nuveen LLC bought a new stake in shares of Equinix during the 1st quarter worth about $662,663,000. Northern Trust Corp raised its position in shares of Equinix by 65.3% during the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after buying an additional 586,034 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Equinix by 22.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider’s stock worth $1,296,871,000 after buying an additional 291,753 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Equinix by 169.7% during the 1st quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider’s stock worth $321,427,000 after buying an additional 248,075 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Performance

Equinix stock opened at $784.00 on Thursday. The firm’s 50 day simple moving average is $813.98 and its 200-day simple moving average is $845.73. The company has a market cap of $76.72 billion, a P/E ratio of 76.79, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $9.22 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix’s payout ratio is presently 183.74%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EQIX shares. Guggenheim started coverage on shares of Equinix in a research report on Thursday, July 10th. They set a “buy” rating and a $933.00 price target on the stock. Citigroup boosted their price target on shares of Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. JMP Securities restated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Tuesday, July 22nd. Dbs Bank upgraded shares of Equinix to a “moderate buy” rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company dropped their target price on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating on the stock in a report on Thursday, June 26th. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Buy” and a consensus price target of $962.24.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 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 at this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 directly owned 9,615 shares of the company’s stock, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

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.