Longfellow Investment Management Co. LLC Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Longfellow Investment Management Co. LLC acquired a new position in Equinix, Inc. (NASDAQ:EQIX) during the 1st quarter, HoldingsChannel reports. The fund acquired 494 shares of the financial services provider’s stock, valued at approximately $403,000.

Several other hedge funds have also bought and sold shares of the stock. Pinney & Scofield Inc. purchased a new position in Equinix in the 4th quarter valued at $28,000. Whipplewood Advisors LLC lifted its holdings in Equinix by 127.8% in 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 lifted its holdings in 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 in the last quarter. Pacific Center for Financial Services lifted its holdings in Equinix by 65.2% in 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. Finally, Tidemark LLC lifted its holdings in Equinix by 57.1% in the 1st quarter. Tidemark LLC now owns 44 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $776.20 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The stock has a 50 day moving average of $820.97 and a two-hundred day moving average of $847.72. The stock has a market cap of $75.96 billion, a P/E ratio of 76.02, a P/E/G ratio of 1.40 and a beta of 0.90.

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

Equinix Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQIX. Wells Fargo & Company reduced their price target on Equinix from $1,065.00 to $925.00 and set an “overweight” rating on the stock in a report on Thursday, June 26th. The Goldman Sachs Group cut their price objective 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. JPMorgan Chase & Co. raised their price objective on Equinix from $935.00 to $940.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Cfra Research downgraded Equinix from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, New Street Research raised Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Five research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $959.86.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer owned 9,615 shares of the company’s stock, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

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.