CCM Investment Advisers LLC Buys 1,737 Shares of Equinix, Inc. (NASDAQ:EQIX)

CCM Investment Advisers LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 15.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,250 shares of the financial services provider’s stock after buying an additional 1,737 shares during the quarter. CCM Investment Advisers LLC’s holdings in Equinix were worth $10,803,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new stake in shares of Equinix in the 4th quarter valued at $28,000. Kestra Investment Management LLC acquired a new position in Equinix in the fourth quarter valued at about $31,000. Whipplewood Advisors LLC boosted its position in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after buying an additional 23 shares in the last quarter. Pacific Center for Financial Services grew its stake in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after buying an additional 15 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Equinix during the fourth quarter worth approximately $39,000. 94.94% of the stock is currently owned by institutional investors.

Insider Activity at Equinix

In other news, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. This trade represents a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer now owns 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is owned by insiders.

Equinix Trading Up 0.3%

NASDAQ EQIX opened at $896.42 on Friday. Equinix, Inc. has a 52 week low of $701.41 and a 52 week 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 stock’s 50 day moving average price is $848.81 and its two-hundred day moving average price is $889.65. The stock has a market capitalization of $87.69 billion, a price-to-earnings ratio of 104.84, a PEG ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion for 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 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 firm posted $8.86 earnings per share. As a group, analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed 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. This represents a $18.76 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Wednesday, May 21st. Equinix’s payout ratio is 195.01%.

Analyst Ratings Changes

Several research analysts have recently commented on EQIX shares. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Friday, May 23rd. Bank of America initiated coverage on Equinix in a research note on Monday, May 19th. They issued a “buy” rating and a $1,000.00 target price for the company. Barclays increased their price objective on shares of Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 27th. Citigroup increased their price target on shares of Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Finally, Wolfe Research lowered shares of Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $1,004.80.

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.