Vestmark Advisory Solutions Inc. Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Vestmark Advisory Solutions Inc. raised its position in Equinix, Inc. (NASDAQ:EQIX) by 66.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,684 shares of the financial services provider’s stock after purchasing an additional 1,468 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Equinix were worth $3,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Truist Financial Corp boosted its stake in Equinix by 8.2% during the 1st quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider’s stock worth $42,643,000 after purchasing an additional 3,981 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Equinix by 71.7% in the first quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider’s stock valued at $60,690,000 after buying an additional 31,073 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of Equinix in the first quarter valued at about $451,000. Miller Howard Investments Inc. NY boosted its stake in shares of Equinix by 20.1% during the first quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider’s stock worth $3,150,000 after buying an additional 646 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Equinix by 113.2% during the first quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider’s stock worth $14,639,000 after buying an additional 9,534 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on EQIX. Cowen reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, July 3rd. TD Securities upped their price target on Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on Equinix from $935.00 to $940.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Guggenheim initiated coverage on shares of Equinix in a research report on Thursday, July 10th. They issued a “buy” rating and a $933.00 price objective on the stock. Finally, Truist Financial raised their target price on shares of Equinix from $904.00 to $961.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $962.24.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on 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 directly owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Up 0.8%

EQIX stock opened at $781.31 on Friday. The company’s 50 day simple moving average is $808.63 and its 200-day simple moving average is $844.01. The firm has a market capitalization of $76.46 billion, a PE ratio of 76.52, a P/E/G ratio of 1.40 and a beta of 0.90. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. 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 (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating the consensus estimate of $3.49 by $6.42. The business had revenue of $2.26 billion for 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%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $9.22 earnings per share. Equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a $4.69 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. Equinix’s dividend payout ratio is currently 183.74%.

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.