Lake Street Advisors Group LLC Buys 209 Shares of Equinix, Inc. (NASDAQ:EQIX)

Lake Street Advisors Group LLC grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 38.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 755 shares of the financial services provider’s stock after buying an additional 209 shares during the period. Lake Street Advisors Group LLC’s holdings in Equinix were worth $623,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EQIX. Royal Bank of Canada lowered their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. The Goldman Sachs Group started coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 target price on the stock. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $825.00 to $875.00 in a report on Tuesday. Morgan Stanley cut their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Finally, Barclays raised their target price on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $875.50.

Equinix Stock Down 1.0 %

Shares of EQIX traded down $7.65 during trading hours on Thursday, hitting $786.50. The company had a trading volume of 96,466 shares, compared to its average volume of 565,341. The firm has a fifty day moving average price of $771.64 and a 200-day moving average price of $797.48. 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 stock has a market capitalization of $74.65 billion, a price-to-earnings ratio of 79.17, a P/E/G ratio of 2.77 and a beta of 0.68. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was 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 directly owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the business’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 transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

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.