Evergreen Capital Management LLC Buys 61 Shares of Equinix, Inc. (NASDAQ:EQIX)

Evergreen Capital Management LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 17.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 419 shares of the financial services provider’s stock after acquiring an additional 61 shares during the quarter. Evergreen Capital Management LLC’s holdings in Equinix were worth $317,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Magnetar Financial LLC bought a new stake in shares of Equinix during the second quarter worth $1,149,000. Public Sector Pension Investment Board raised its stake in shares of Equinix by 17.8% during the second quarter. Public Sector Pension Investment Board now owns 13,149 shares of the financial services provider’s stock valued at $9,949,000 after acquiring an additional 1,990 shares in the last quarter. Nippon Life Global Investors Americas Inc. boosted its holdings in shares of Equinix by 151.0% in the second quarter. Nippon Life Global Investors Americas Inc. now owns 1,280 shares of the financial services provider’s stock valued at $968,000 after purchasing an additional 770 shares during the period. Itau Unibanco Holding S.A. bought a new position in Equinix in the second quarter worth approximately $67,000. Finally, Fidelis Capital Partners LLC raised its position in Equinix by 11.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,141 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 117 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Up 0.4 %

Equinix stock opened at $882.69 on Friday. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a market cap of $83.77 billion, a PE ratio of 88.16, a PEG ratio of 2.15 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50-day simple moving average is $826.88 and its two-hundred day simple moving average is $792.72.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company posted $8.04 EPS. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.93%. Equinix’s dividend payout ratio is presently 170.91%.

Insider Buying and Selling at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was 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 in the company, valued at approximately $4,559,334.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Equinix news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company raised shares of 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 upped their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Cfra restated a “hold” rating on shares of Equinix in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average target price of $891.57.

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.