Great Lakes Retirement Inc. Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

Great Lakes Retirement Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,059 shares of the financial services provider’s stock after purchasing an additional 84 shares during the period. Great Lakes Retirement Inc.’s holdings in Equinix were worth $864,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new stake in Equinix in the fourth quarter worth about $28,000. Kestra Investment Management LLC bought a new stake in shares of Equinix during the 4th quarter worth approximately $31,000. Whipplewood Advisors LLC boosted its holdings in Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 23 shares during the period. Pacific Center for Financial Services grew its position in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 15 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in Equinix in the fourth quarter worth $39,000. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value 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. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the sale, the director now owns 17,569 shares of the company’s stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 in the last ninety days. 0.27% of the stock is owned by insiders.

Equinix Stock Down 0.5%

NASDAQ:EQIX opened at $888.15 on Tuesday. The company’s 50-day simple moving average is $854.82 and its 200-day simple moving average is $887.14. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The stock has a market capitalization of $86.88 billion, a P/E ratio of 103.88, a P/E/G ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the firm earned $8.86 earnings per share. Equinix’s revenue was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given 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 2.11%. Equinix’s payout ratio is 195.01%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EQIX. Stifel Nicolaus boosted their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. New Street Research raised shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Scotiabank reduced their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 22nd. TD Securities lifted their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Citigroup increased their price objective on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $1,004.80.

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.