Xponance Inc. Has $11.91 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Xponance Inc. boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,605 shares of the financial services provider’s stock after purchasing an additional 333 shares during the period. Xponance Inc.’s holdings in Equinix were worth $11,908,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of EQIX. Pinney & Scofield Inc. acquired a new stake in shares of Equinix in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC grew its stake in Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 23 shares during the period. Cornerstone Planning Group LLC grew its stake in Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 12 shares during the period. 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 purchasing an additional 15 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in Equinix during the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider directly owned 1,842 shares in the company, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the 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 owned 9,615 shares of the company’s stock, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is owned by company insiders.

Equinix Stock Performance

Shares of EQIX opened at $756.70 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $74.02 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 1.28 and a beta of 0.93. The stock has a 50 day moving average of $856.50 and a 200 day moving average of $869.39. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS 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 the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. Equinix’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $8.86 earnings per share. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.48%. Equinix’s dividend payout ratio is presently 195.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Guggenheim assumed coverage on Equinix in a research note on Thursday. They set a “buy” rating and a $933.00 target price for the company. Cfra Research cut Equinix from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, June 26th. Bank of America decreased their target price on Equinix from $1,000.00 to $950.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Mizuho cut their price target on Equinix from $1,069.00 to $900.00 and set an “outperform” rating on the stock in a report on Tuesday, July 1st. Finally, Wolfe Research lowered Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $957.05.

About Equinix

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.