Edgestream Partners L.P. Buys 11,616 Shares of Equinix, Inc. (NASDAQ:EQIX)

Edgestream Partners L.P. increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 2,204.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,143 shares of the financial services provider’s stock after purchasing an additional 11,616 shares during the quarter. Edgestream Partners L.P.’s holdings in Equinix were worth $9,901,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EQIX. Brighton Jones LLC raised its holdings in Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 73 shares during the period. Bank Pictet & Cie Europe AG bought a new stake in Equinix during the fourth quarter valued at about $2,027,000. Proficio Capital Partners LLC bought a new stake in Equinix during the fourth quarter valued at about $246,000. Independent Advisor Alliance raised its holdings in Equinix by 45.8% during the fourth quarter. Independent Advisor Alliance now owns 618 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 194 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in shares of Equinix by 163.1% in the fourth quarter. First Eagle Investment Management LLC now owns 221 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 137 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider directly owned 1,842 shares of the company’s stock, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company’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 directly owned 17,569 shares in the company, valued at approximately $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 valued at $2,808,008 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $756.70 on Monday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The stock’s fifty day moving average price is $856.50 and its 200 day moving average price is $868.27. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The company has a market cap of $74.02 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 1.28 and a beta of 0.93.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the firm earned $8.86 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

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

Wall Street Analyst Weigh In

EQIX has been the subject of several recent research reports. The Goldman Sachs Group dropped their price target on Equinix from $1,020.00 to $880.00 and set a “buy” rating for the company in a research report on Wednesday, July 2nd. Cfra Research lowered Equinix from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, June 26th. Mizuho dropped their target price on Equinix from $1,069.00 to $900.00 and set an “outperform” rating for the company in a research report on Tuesday, July 1st. Truist Financial dropped their target price on Equinix from $986.00 to $904.00 and set a “buy” rating for the company in a research report on Tuesday, July 1st. Finally, Bank of America dropped their target price on Equinix from $1,000.00 to $950.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Four 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. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and an average target price of $957.05.

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.