Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Welch & Forbes LLC

Welch & Forbes LLC raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,135 shares of the financial services provider’s stock after buying an additional 1,135 shares during the period. Welch & Forbes LLC’s holdings in Equinix were worth $15,602,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. bought a new position in shares of Equinix during the 4th quarter valued at about $28,000. Pacific Center for Financial Services boosted its position in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares in the last quarter. Whipplewood Advisors LLC boosted its position in shares of 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 purchasing an additional 23 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Equinix by 40.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 12 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Equinix during the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EQIX shares. New Street Research upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Stifel Nicolaus decreased their target price on shares of Equinix from $1,050.00 to $1,010.00 and set a “buy” rating for the company in a report on Thursday, June 26th. BMO Capital Markets cut shares of Equinix from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $1,045.00 to $850.00 in a report on Thursday, June 26th. Truist Financial decreased their target price on shares of Equinix from $986.00 to $904.00 and set a “buy” rating for the company in a report on Tuesday, July 1st. Finally, Cowen reiterated a “buy” rating on shares of Equinix in a report on Thursday, July 3rd. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $957.05.

Equinix Trading Down 0.0%

NASDAQ:EQIX opened at $759.96 on Wednesday. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The firm has a market cap of $74.34 billion, a price-to-earnings ratio of 79.00, a P/E/G ratio of 1.29 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average is $851.73 and its 200-day moving average is $866.25.

Equinix (NASDAQ:EQIX) last released 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. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm posted $8.86 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is currently 195.01%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the business’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 transaction, the director owned 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. 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 company insiders.

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.