Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 61,400.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,845 shares of the financial services provider’s stock after purchasing an additional 1,842 shares during the period. Frank Rimerman Advisors LLC’s holdings in Equinix were worth $1,396,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in shares of Equinix by 22.2% in the second quarter. ProShare Advisors LLC now owns 19,143 shares of the financial services provider’s stock valued at $14,484,000 after buying an additional 3,478 shares in the last quarter. Profund Advisors LLC boosted its holdings in Equinix by 3.8% during the 2nd quarter. Profund Advisors LLC now owns 1,513 shares of the financial services provider’s stock valued at $1,145,000 after acquiring an additional 55 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in Equinix by 7.6% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 341 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 24 shares during the period. Ensign Peak Advisors Inc grew its position in Equinix by 12.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 60,738 shares of the financial services provider’s stock valued at $45,954,000 after acquiring an additional 6,614 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Equinix by 456.5% during the second quarter. Thrivent Financial for Lutherans now owns 138,966 shares of the financial services provider’s stock worth $105,142,000 after purchasing an additional 113,994 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock opened at $877.20 on Monday. The stock has a market cap of $83.25 billion, a price-to-earnings ratio of 87.98, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average price of $820.42 and a 200 day moving average price of $791.76.

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 the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.04 EPS. Equities research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares in the company, valued at $7,729,900. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQIX. Mizuho raised their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group started coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. TD Cowen increased their price objective on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Barclays boosted 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 investment 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 target price of $883.71.

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.