Twin Capital Management Inc. acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,526 shares of the financial services provider’s stock, valued at approximately $1,169,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after buying an additional 73 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Equinix by 11.5% in the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after buying an additional 54 shares during the last quarter. Empowered Funds LLC raised its stake in Equinix by 21.8% in the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after buying an additional 546 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in Equinix in the second quarter valued at about $231,000. Finally, Brown Advisory Inc. raised its stake in Equinix by 2.8% in the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock valued at $854,000 after buying an additional 29 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
Equinix Trading Up 1.3%
Shares of NASDAQ:EQIX opened at $1,078.42 on Friday. Equinix, Inc. has a 52-week low of $710.52 and a 52-week high of $1,128.68. The stock has a market cap of $106.35 billion, a price-to-earnings ratio of 74.63, a PEG ratio of 2.00 and a beta of 1.01. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average price of $1,035.69 and a 200-day moving average price of $894.31.
Equinix Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be given a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, May 20th. Equinix’s dividend payout ratio (DPR) is currently 142.84%.
Analyst Ratings Changes
A number of research firms have commented on EQIX. Evercore reiterated an “outperform” rating and issued a $1,240.00 price target on shares of Equinix in a research note on Tuesday, April 28th. Mizuho increased their price target on Equinix from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Zacks Research cut Equinix from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings upgraded Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group raised their price objective on Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,143.60.
Get Our Latest Stock Report on EQIX
Insider Activity at Equinix
In related news, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total transaction of $613,225.85. Following the completion of the transaction, the insider directly owned 10,788 shares in the company, valued at approximately $10,418,079.48. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $965.69, for a total value of $563,962.96. Following the transaction, the executive vice president owned 7,768 shares of the company’s stock, valued at approximately $7,501,479.92. This represents a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,729 shares of company stock valued at $11,980,800 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.
Equinix Company Profile
Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.
Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.
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