Equinix, Inc. (NASDAQ:EQIX) Stock Position Raised by LPL Financial LLC

LPL Financial LLC boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,554 shares of the financial services provider’s stock after acquiring an additional 1,823 shares during the period. LPL Financial LLC’s holdings in Equinix were worth $31,638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EQIX. Inspire Trust Co. N.A. boosted its position in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 11 shares during the period. Rothschild Investment LLC boosted its holdings in shares of Equinix by 1.9% during the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 11 shares during the period. Ritholtz Wealth Management grew its position in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 12 shares during the last quarter. Great Lakes Retirement Inc. increased its holdings in shares of Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock worth $920,000 after acquiring an additional 12 shares during the period. Finally, Lake Street Advisors Group LLC lifted its position in Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 12 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Down 2.7 %

Shares of NASDAQ:EQIX opened at $803.00 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $78.16 billion, a price-to-earnings ratio of 93.92, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a 50 day moving average price of $895.96 and a 200 day moving average price of $908.73.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. On average, research analysts anticipate 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 issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is presently 219.42%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EQIX. Oppenheimer upped their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Mizuho lowered their target price on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research report on Friday. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Barclays increased their price target on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Finally, Scotiabank lifted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Buy” and a consensus price target of $1,007.59.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the sale, the chairman now owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value 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 approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by corporate insiders.

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.