Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.1% during the first quarter, Holdings Channel reports. The firm owned 2,218 shares of the financial services provider’s stock after acquiring an additional 46 shares during the quarter. Townsquare Capital LLC’s holdings in Equinix were worth $1,809,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EQIX. Pinney & Scofield Inc. acquired a new stake in shares of Equinix in the fourth quarter valued at $28,000. Whipplewood Advisors LLC raised its stake in shares of Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 23 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 12 shares in the last quarter. Pacific Center for Financial Services raised its stake in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 15 shares in the last quarter. Finally, Tidemark LLC raised its stake in shares of Equinix by 57.1% in the first quarter. Tidemark LLC now owns 44 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 16 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

NASDAQ EQIX opened at $787.32 on Wednesday. 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’s 50-day moving average price is $816.55 and its 200 day moving average price is $846.16. The firm has a market cap of $77.05 billion, a P/E ratio of 77.11, a P/E/G ratio of 1.40 and a beta of 0.90.

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

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 dividend on an annualized basis and a yield of 2.4%. Equinix’s dividend payout ratio (DPR) is presently 183.74%.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several analyst reports. BNP Paribas upgraded Equinix to a “strong-buy” rating in a research note on Thursday, May 1st. Barclays dropped their target price on Equinix from $837.00 to $798.00 and set an “equal weight” rating on the stock in a report on Friday, July 11th. Scotiabank dropped their target price on Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating on the stock in a report on Thursday, June 26th. New Street Research raised Equinix to a “strong-buy” rating in a report on Monday, April 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a report on Tuesday, July 22nd. Five 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 stock. Based on data from MarketBeat.com, Equinix has an average rating of “Buy” and a consensus target price of $959.86.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the firm’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 completion of the sale, the director owned 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 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.