Ieq Capital LLC Buys 169 Shares of Equinix, Inc. (NASDAQ:EQIX)

Ieq Capital LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.8% during the second quarter, HoldingsChannel.com reports. The fund owned 3,667 shares of the financial services provider’s stock after buying an additional 169 shares during the quarter. Ieq Capital LLC’s holdings in Equinix were worth $2,774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CNB Bank increased its holdings in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the 2nd quarter worth $30,000. LRI Investments LLC bought a new position in shares of Equinix during the 1st quarter worth $31,000. Meeder Asset Management Inc. purchased a new position in shares of Equinix during the second quarter valued at $36,000. Finally, Rise Advisors LLC bought a new stake in shares of Equinix in the first quarter valued at about $39,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EQIX. Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Barclays increased their target price on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Mizuho boosted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, TD Cowen upped their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Stock Performance

Shares of Equinix stock opened at $877.20 on Friday. The firm has a market capitalization of $83.25 billion, a P/E ratio of 87.98, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 52 week low of $677.80 and a 52 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 company has a 50 day moving average price of $820.42 and a 200 day moving average price of $792.56.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm posted $8.04 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

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

Insider Buying and Selling

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

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.