Graypoint LLC Has $686,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Graypoint LLC raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 842 shares of the financial services provider’s stock after buying an additional 43 shares during the period. Graypoint LLC’s holdings in Equinix were worth $686,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Legacy Financial Advisors Inc. boosted its stake in shares of Equinix by 3.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after buying an additional 11 shares during the period. Cornerstone Planning Group LLC raised its holdings 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. Signaturefd LLC raised its holdings in shares of Equinix by 0.8% during the 1st quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 12 shares in the last quarter. Nemes Rush Group LLC raised its holdings in shares of Equinix by 18.3% during the 4th quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 13 shares in the last quarter. Finally, Griffin Asset Management Inc. raised its holdings in shares of Equinix by 0.7% during the 1st quarter. Griffin Asset Management Inc. now owns 1,771 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EQIX shares. Wolfe Research downgraded shares of Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. New Street Research upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, April 28th. TD Securities raised their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Bank of America cut their price target on shares of Equinix from $1,000.00 to $950.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Finally, Cfra Research downgraded shares of Equinix from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix presently has an average rating of “Buy” and a consensus price target of $957.05.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,176 shares of company stock worth $2,808,008. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $777.78 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The firm’s 50-day moving average is $846.17 and its 200-day moving average is $863.31. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company has a market cap of $76.08 billion, a price-to-earnings ratio of 80.85, a PEG ratio of 1.31 and a beta of 0.93.

Equinix (NASDAQ:EQIX) last issued 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 10.48% and a return on equity of 6.96%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business earned $8.86 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 2.41%. Equinix’s dividend payout ratio (DPR) is currently 195.01%.

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.