Private Advisor Group LLC Buys 1,248 Shares of Equinix, Inc. (NASDAQ:EQIX)

Private Advisor Group LLC grew its position in Equinix, Inc. (NASDAQ:EQIX) by 134.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,179 shares of the financial services provider’s stock after buying an additional 1,248 shares during the period. Private Advisor Group LLC’s holdings in Equinix were worth $1,649,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in shares of Equinix by 0.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after purchasing an additional 1,159 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in shares of Equinix in the 4th quarter valued at about $3,724,000. Global Assets Advisory LLC acquired a new stake in shares of Equinix in the 1st quarter valued at approximately $15,187,000. Schroder Investment Management Group boosted its stake in Equinix by 0.6% during the 4th quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in Equinix by 48.0% during the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after purchasing an additional 2,133 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $871.54 on Friday. The firm’s 50 day simple moving average is $811.47 and its 200 day simple moving average is $794.10. The firm has a market capitalization of $82.74 billion, a price-to-earnings ratio of 87.42, a P/E/G ratio of 2.11 and a beta of 0.71. 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, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93.

Equinix (NASDAQ:EQIX) last issued 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). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $8.04 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Insider Activity

In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Barclays increased their price target on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Royal Bank of Canada decreased their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $883.71.

Equinix Company 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.