Ashford Capital Management Inc. Increases Position in Equinix, Inc. (NASDAQ:EQIX)

Ashford Capital Management Inc. raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,909 shares of the financial services provider’s stock after buying an additional 1,515 shares during the period. Equinix comprises about 2.9% of Ashford Capital Management Inc.’s holdings, making the stock its 13th largest holding. Ashford Capital Management Inc.’s holdings in Equinix were worth $24,429,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EQIX. Rothschild Investment LLC boosted its stake in Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after buying an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. boosted its position in shares of Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 11 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Equinix by 1.8% in 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. grew its holdings in Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after purchasing an additional 12 shares during the period. Finally, Lake Street Advisors Group LLC increased its position in Equinix by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 12 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

EQIX stock opened at $877.57 on Tuesday. The stock’s 50 day moving average is $825.91 and its two-hundred day moving average is $892.56. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company has a market capitalization of $85.84 billion, a PE ratio of 102.64, a P/E/G ratio of 1.78 and a beta of 0.97. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

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

Equinix Announces Dividend

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

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Citigroup lifted their target price on Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a report on Monday, May 5th. Cowen reissued a “buy” rating on shares of Equinix in a research report on Thursday, May 1st. Stifel Nicolaus raised their price objective on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, TD Securities lifted their price objective on Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has a consensus rating of “Buy” and a consensus target price of $1,004.65.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director now owns 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,927 shares of company stock worth $6,431,559. Corporate insiders own 0.27% of the company’s stock.

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.