Arthur M. Cohen & Associates LLC Has $2.50 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Arthur M. Cohen & Associates LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 7.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,066 shares of the financial services provider’s stock after buying an additional 209 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Equinix were worth $2,500,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after buying an additional 88,654 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Equinix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock worth $2,269,037,000 after buying an additional 62,005 shares during the period. FMR LLC increased its position in shares of Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock worth $2,135,606,000 after buying an additional 81,144 shares during the period. Principal Financial Group Inc. grew its holdings in Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Equinix by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider’s stock worth $1,793,429,000 after purchasing an additional 14,294 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of recent research reports. Scotiabank dropped their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, April 22nd. Wolfe Research raised shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective on the stock in a research note on Thursday, March 27th. Cowen reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, May 1st. Mizuho dropped their price objective on shares of 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $1,004.80.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $912.20 on Thursday. The firm has a market cap of $89.23 billion, a price-to-earnings ratio of 106.69, a P/E/G ratio of 1.78 and a beta of 0.97. 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’s 50-day simple moving average is $835.81 and its two-hundred day simple moving average is $890.74. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $8.86 earnings per share. As a group, equities analysts forecast 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 paid a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.06%. Equinix’s payout ratio is 195.01%.

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.