Advanced Portfolio Management LLC Takes $443,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Advanced Portfolio Management LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 485 shares of the financial services provider’s stock, valued at approximately $443,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Equinix in the 4th quarter valued at approximately $1,067,270,000. Northern Trust Corp increased its holdings in Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock valued at $1,399,042,000 after purchasing an additional 586,034 shares during the last quarter. Wellington Management Group LLP lifted its stake in Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock worth $1,701,188,000 after purchasing an additional 401,991 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Equinix during the fourth quarter worth $328,899,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Equinix during the fourth quarter worth $246,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of EQIX stock opened at $875.85 on Friday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. 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 firm has a market cap of $85.67 billion, a price-to-earnings ratio of 102.44, a PEG ratio of 1.78 and a beta of 0.95. The stock’s 50-day moving average is $828.81 and its two-hundred day moving average is $894.55.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.86 earnings per share. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.14%. Equinix’s payout ratio is 195.01%.

Insider Activity

In related news, Director Christopher B. Paisley sold 125 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares of the company’s stock, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,040 shares of company stock valued at $6,547,068. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several research reports. Mizuho decreased their target price on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Scotiabank lowered their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 22nd. New Street Research raised shares of Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Wells Fargo & Company decreased their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, TD Securities upped their price objective on Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $1,004.05.

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.