Equinix, Inc. $EQIX Stock: Kestra Advisory Services LLC Boosts Stake

Kestra Advisory Services LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 19.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,808 shares of the financial services provider’s stock after buying an additional 1,261 shares during the quarter. Kestra Advisory Services LLC’s holdings in Equinix were worth $7,898,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EQIX. Elevation Wealth Partners LLC lifted its holdings in shares of Equinix by 166.7% during the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 15 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Equinix in the 2nd quarter valued at $34,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Equinix in the 1st quarter worth about $39,000. Signature Equity Partners LLC grew its holdings in shares of Equinix by 193.3% in the 3rd quarter. Signature Equity Partners LLC now owns 44 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 29 shares during the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of Equinix during the 2nd quarter worth about $53,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

Equinix stock opened at $1,050.00 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $103.60 billion, a P/E ratio of 63.06, a P/E/G ratio of 1.48 and a beta of 0.98. The business’s fifty day moving average is $1,016.98 and its two-hundred day moving average is $1,015.90. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, topping the consensus estimate of $4.11 by $0.82. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the business earned $9.83 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts forecast that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 18th will be given a dividend of $5.16 per share. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 annualized dividend and a yield of 2.0%. Equinix’s dividend payout ratio is 123.96%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EQIX shares. Citigroup lifted their price target on shares of Equinix from $1,260.00 to $1,320.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Scotiabank restated a “sector perform” rating and issued a $1,208.00 price target on shares of Equinix in a research report on Thursday, July 30th. BNP Paribas Exane decreased their price objective on shares of Equinix from $1,222.00 to $1,219.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,340.00 price objective (up from $1,300.00) on shares of Equinix in a report on Thursday, July 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,211.00 price objective on shares of Equinix in a report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,234.13.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 198 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total transaction of $200,807.64. Following the sale, the insider owned 3,879 shares of the company’s stock, valued at $3,934,004.22. This represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher Paisley sold 125 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the completion of the sale, the director owned 13,734 shares of the company’s stock, valued at $15,156,567.72. The trade was a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 968 shares of company stock valued at $1,007,885 in the last 90 days. 0.27% of the stock is currently owned by insiders.

About Equinix

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.