Equinix, Inc. (NASDAQ:EQIX) Stake Boosted by Summit Financial LLC

Summit Financial LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 164.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 887 shares of the financial services provider’s stock after purchasing an additional 552 shares during the quarter. Summit Financial LLC’s holdings in Equinix were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EQIX. Kestra Investment Management LLC acquired a new position in Equinix during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new position in shares of Equinix during the fourth quarter worth approximately $39,000. Sierra Ocean LLC bought a new position in Equinix in the 4th quarter worth approximately $42,000. Dunhill Financial LLC raised its stake in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. acquired a new position in Equinix during the 4th quarter worth $47,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EQIX shares. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Wolfe Research raised shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target for the company in a research note on Thursday, March 27th. Royal Bank of Canada raised their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Mizuho cut their target price on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Equinix presently has an average rating of “Buy” and an average price target of $1,007.59.

Insiders Place Their Bets

In related news, CFO Keith D. Taylor sold 2,454 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the transaction, the chief financial officer now owns 24,402 shares of the company’s stock, valued at approximately $22,677,754.68. This trade represents a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Price Performance

EQIX opened at $831.55 on Thursday. The firm has a market capitalization of $80.94 billion, a P/E ratio of 97.26, a PEG ratio of 1.78 and a beta of 0.74. The stock has a fifty day moving average of $889.74 and a 200-day moving average of $907.72. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

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.