Farther Finance Advisors LLC Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

Farther Finance Advisors LLC boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 126.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 832 shares of the financial services provider’s stock after buying an additional 465 shares during the period. Farther Finance Advisors LLC’s holdings in Equinix were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. CNB Bank boosted its position in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. LRI Investments LLC purchased a new stake in Equinix in the first quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the second quarter valued at approximately $30,000. Rise Advisors LLC purchased a new stake in Equinix in the 1st quarter worth approximately $39,000. Finally, UMB Bank n.a. boosted its position in Equinix by 30.0% in the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EQIX shares. The Goldman Sachs Group started coverage on Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Truist Financial upped their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada dropped their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Finally, Barclays upped their target price on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $876.71.

Equinix Stock Performance

NASDAQ:EQIX opened at $834.36 on Tuesday. The company has a market cap of $79.19 billion, a P/E ratio of 83.69, a P/E/G ratio of 2.03 and a beta of 0.68. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The company’s 50-day moving average price is $794.62 and its 200-day moving average price is $794.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $8.04 earnings per share. On average, sell-side analysts forecast that Equinix, Inc. will post 31.04 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, August 21st. 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.