Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,237 shares of the financial services provider’s stock after acquiring an additional 244 shares during the period. HighTower Advisors LLC’s holdings in Equinix were worth $18,131,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new stake in Equinix during the fourth quarter valued at $28,000. Whipplewood Advisors LLC increased its stake in Equinix by 127.8% during the first 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 during the last quarter. Cornerstone Planning Group LLC increased its stake in Equinix by 40.0% during the first 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. Pacific Center for Financial Services increased its stake in Equinix by 65.2% during the fourth 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 during the last quarter. Finally, Tidemark LLC increased its stake in Equinix by 57.1% during the first quarter. Tidemark LLC now owns 44 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 16 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $781.31 on Friday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $76.46 billion, a price-to-earnings ratio of 76.52, a PEG ratio of 1.40 and a beta of 0.90. The firm has a 50-day moving average of $808.63 and a two-hundred day moving average of $844.01.

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

Equinix Announces Dividend

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

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the company’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 directly owned 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Cfra Research lowered shares of Equinix from a “moderate buy” rating to a “hold” rating in a research note on Thursday, July 31st. Truist Financial set a $961.00 target price on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, August 7th. Scotiabank lowered their target price on shares of Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 26th. Wall Street Zen lowered shares of Equinix from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Wells Fargo & Company lowered their price target on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating for the company in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $962.24.

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.