Envestnet Portfolio Solutions Inc. Buys 2,448 Shares of Equinix, Inc. (NASDAQ:EQIX)

Envestnet Portfolio Solutions Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 22.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,274 shares of the financial services provider’s stock after buying an additional 2,448 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Equinix were worth $10,043,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Goelzer Investment Management Inc. raised its stake in shares of Equinix by 0.3% in the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock valued at $3,364,000 after purchasing an additional 13 shares in the last quarter. Sage Mountain Advisors LLC raised its stake in shares of Equinix by 3.9% in the 4th quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock valued at $304,000 after buying an additional 14 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Equinix by 3.0% during the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 14 shares during the period. Banco Santander S.A. boosted its position in shares of Equinix by 2.0% during the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 14 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in Equinix by 0.5% in the fourth quarter. Ieq Capital LLC now owns 2,923 shares of the financial services provider’s stock valued at $2,354,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EQIX shares. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Mizuho assumed coverage on Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price target on the stock. Barclays boosted their target price 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. TD Cowen increased their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $877.79.

Equinix Trading Down 1.2 %

NASDAQ EQIX traded down $9.86 during trading hours on Thursday, hitting $831.63. The company’s stock had a trading volume of 179,840 shares, compared to its average volume of 563,651. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The firm has a market capitalization of $78.93 billion, a P/E ratio of 84.40, a PEG ratio of 2.80 and a beta of 0.68. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average of $778.67 and a 200 day moving average of $796.59.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 7.73% and a net margin of 11.32%. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $8.04 EPS. Equities research analysts forecast that Equinix, Inc. will post 31.23 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 2.05%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

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.