Integrated Advisors Network LLC Increases Stock Position in Equinix, Inc. $EQIX

Integrated Advisors Network LLC boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 25.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,960 shares of the financial services provider’s stock after acquiring an additional 1,626 shares during the period. Integrated Advisors Network LLC’s holdings in Equinix were worth $6,235,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 54 shares in the last quarter. Empowered Funds LLC lifted its stake in Equinix by 21.8% in the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 546 shares during the period. Schnieders Capital Management LLC. bought a new stake in Equinix in the second quarter valued at $231,000. Finally, Wealthfront Advisers LLC increased its position in Equinix by 1.6% during the 2nd quarter. Wealthfront Advisers LLC now owns 4,258 shares of the financial services provider’s stock valued at $3,387,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays reaffirmed a “positive” rating and issued a $870.00 target price on shares of Equinix in a research report on Tuesday, January 13th. Scotiabank restated an “outperform” rating on shares of Equinix in a report on Thursday, February 12th. Wall Street Zen cut Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research report on Thursday, January 22nd. Finally, Guggenheim raised their target price on Equinix from $933.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given 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 price target of $1,001.41.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $743,250.06. Following the completion of the transaction, the executive vice president directly owned 7,337 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the transaction, the chief financial officer owned 26,373 shares in the company, valued at approximately $21,208,375.41. This represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,353 shares of company stock worth $11,283,043 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $948.02 on Friday. The company has a 50 day simple moving average of $827.75 and a two-hundred day simple moving average of $799.61. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $992.90. The company has a market capitalization of $93.14 billion, a price-to-earnings ratio of 68.95, a P/E/G ratio of 1.91 and a beta of 1.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32.

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

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $5.16 per share. The ex-dividend date is Wednesday, February 25th. This is a boost from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 2.2%. Equinix’s dividend payout ratio is 150.11%.

Equinix Company Profile

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.