Gagnon Securities LLC Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

Gagnon Securities LLC increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,590 shares of the financial services provider’s stock after purchasing an additional 749 shares during the quarter. Equinix makes up approximately 2.4% of Gagnon Securities LLC’s investment portfolio, making the stock its 17th largest position. Gagnon Securities LLC’s holdings in Equinix were worth $11,081,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EQIX. Legacy Financial Advisors Inc. boosted its position in shares of Equinix by 3.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 11 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Equinix by 40.0% in 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 during the last quarter. Signaturefd LLC increased its holdings in shares of Equinix by 0.8% in the first 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 during the period. AE Wealth Management LLC increased its holdings in shares of Equinix by 5.1% in the first quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 12 shares during the period. Finally, Griffin Asset Management Inc. raised its stake in shares of Equinix by 0.7% during the first quarter. Griffin Asset Management Inc. now owns 1,771 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 13 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the business’s 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 completion of the sale, the chief executive officer owned 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director directly owned 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $773.00 on Thursday. The company has a market cap of $75.65 billion, a P/E ratio of 75.71, a P/E/G ratio of 1.26 and a beta of 0.90. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The business has a fifty day simple moving average of $825.39 and a 200-day simple moving average of $850.93.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $6.42. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.22 earnings per share. Equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. Equinix’s payout ratio is currently 183.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Cfra Research cut Equinix from a “moderate buy” rating to a “hold” rating in a research note on Thursday, July 31st. Cowen restated a “buy” rating on shares of Equinix in a research note on Thursday, July 3rd. Mizuho decreased their price target on Equinix from $1,069.00 to $900.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Bank of America decreased their price target on Equinix from $1,000.00 to $950.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. lifted their price target on Equinix from $935.00 to $940.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $957.27.

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.