Ethic Inc. Purchases 289 Shares of Equinix, Inc. (NASDAQ:EQIX)

Ethic Inc. raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 9,034 shares of the financial services provider’s stock after acquiring an additional 289 shares during the quarter. Ethic Inc.’s holdings in Equinix were worth $7,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. acquired a new position in Equinix in the 4th quarter valued at about $28,000. GKV Capital Management Co. Inc. bought a new stake in shares of Equinix during the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC lifted its stake in Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 23 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in Equinix by 40.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 12 shares during the last quarter. Finally, Pacific Center for Financial Services lifted its stake in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EQIX. TD Securities increased their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Dbs Bank raised shares of Equinix to a “moderate buy” rating in a research report on Wednesday, August 6th. Bank of America dropped their price target on shares of Equinix from $1,000.00 to $950.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Finally, Wall Street Zen lowered shares of Equinix from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $962.24.

Equinix Stock Up 0.8%

Shares of Equinix stock opened at $781.31 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The company has a 50-day moving average of $808.63 and a 200 day moving average of $844.01. The firm has a market cap of $76.46 billion, a price-to-earnings ratio of 76.52, a PEG ratio of 1.40 and a beta of 0.90. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $6.42. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.22%. Equinix’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $9.22 EPS. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

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

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were 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 in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.