Greenland Capital Management LP Takes $5.97 Million Position in Equinix, Inc. $EQIX

Greenland Capital Management LP acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,616 shares of the financial services provider’s stock, valued at approximately $5,965,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mufg Securities Americas Inc. grew its position in shares of Equinix by 21.8% during the 3rd quarter. Mufg Securities Americas Inc. now owns 2,640 shares of the financial services provider’s stock valued at $2,068,000 after purchasing an additional 472 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Equinix by 18.2% during the third quarter. EverSource Wealth Advisors LLC now owns 540 shares of the financial services provider’s stock valued at $423,000 after buying an additional 83 shares during the period. Legacy Financial Advisors Inc. purchased a new position in Equinix during the third quarter worth about $321,000. Clearstead Trust LLC increased its stake in Equinix by 6,500.0% in the 3rd quarter. Clearstead Trust LLC now owns 594 shares of the financial services provider’s stock worth $465,000 after acquiring an additional 585 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its holdings in shares of Equinix by 2.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 892 shares of the financial services provider’s stock valued at $699,000 after acquiring an additional 23 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $945.64 on Tuesday. The stock has a market cap of $92.91 billion, a PE ratio of 68.77, a PEG ratio of 1.84 and a beta of 1.06. The company’s fifty day moving average is $815.55 and its 200 day moving average is $796.20. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $992.90. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.92 earnings per share. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be given a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is 136.44%.

Wall Street Analyst Weigh In

EQIX has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Equinix in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Citigroup reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, February 12th. HSBC set a $1,050.00 target price on Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, The Goldman Sachs Group lifted their price target on Equinix from $785.00 to $894.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average target price of $1,001.41.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $743,250.06. Following the transaction, the executive vice president directly owned 7,337 shares of the company’s stock, valued at $5,882,659.86. The trade was a 11.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles J. Meyers sold 2,094 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.14, for a total transaction of $1,683,869.16. Following the sale, the chairman owned 13,253 shares of the company’s stock, valued at $10,657,267.42. This represents a 13.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 14,353 shares of company stock worth $11,283,043. 0.27% of the stock is currently owned by corporate insiders.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.