Catalytic Wealth RIA LLC Has $500,000 Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Catalytic Wealth RIA LLC lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 42.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 606 shares of the financial services provider’s stock after purchasing an additional 182 shares during the period. Catalytic Wealth RIA LLC’s holdings in Equinix were worth $500,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EQIX. Norges Bank acquired a new position in shares of Equinix during the 4th quarter worth about $1,574,132,000. Vanguard Group Inc. grew its stake in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares during the last quarter. M&G Plc acquired a new position in Equinix in the 1st quarter valued at about $187,089,000. Principal Financial Group Inc. grew its stake in Equinix by 14.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock valued at $1,361,224,000 after buying an additional 213,740 shares during the last quarter. Finally, AMF Tjanstepension AB grew its stake in Equinix by 87.4% in the 1st quarter. AMF Tjanstepension AB now owns 308,991 shares of the financial services provider’s stock valued at $255,114,000 after buying an additional 144,093 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of research reports. Morgan Stanley decreased their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Mizuho initiated coverage on shares of Equinix in a research note on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price target on the stock. TD Cowen decreased their price target on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Royal Bank of Canada cut their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $872.38.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the sale, the insider now owns 12,758 shares in the company, valued at $10,212,779. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

Shares of Equinix stock traded up $12.04 on Monday, reaching $798.86. 266,114 shares of the stock were exchanged, compared to its average volume of 572,557. The firm’s 50 day moving average is $771.25 and its 200-day moving average is $797.37. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $75.82 billion, a PE ratio of 80.13, a P/E/G ratio of 2.72 and a beta of 0.68.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

About Equinix

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.