Equinix, Inc. $EQIX Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 168.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,091 shares of the financial services provider’s stock after acquiring an additional 48,967 shares during the quarter. Equinix accounts for about 0.5% of Intech Investment Management LLC’s investment portfolio, making the stock its 22nd biggest position. Intech Investment Management LLC owned approximately 0.08% of Equinix worth $61,164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EQIX. Westside Investment Management Inc. raised its stake in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Equinix during the second quarter valued at $26,000. Bank of Jackson Hole Trust grew its position in shares of Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Abound Wealth Management grew its position in shares of Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Equinix during the 2nd quarter valued at about $28,000. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,670 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.08, for a total transaction of $2,146,893.60. Following the completion of the sale, the chief executive officer directly owned 14,857 shares of the company’s stock, valued at $11,946,216.56. This represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Shane Paladin sold 327 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.36, for a total value of $263,025.72. Following the completion of the transaction, the insider owned 952 shares of the company’s stock, valued at $765,750.72. This trade represents a 25.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 14,353 shares of company stock worth $11,283,043. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. HSBC set a $1,050.00 price target on Equinix and gave the company a “buy” rating in a report on Thursday, January 15th. Jefferies Financial Group boosted their price target on Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Guggenheim increased their price target on Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. UBS Group raised their price target on Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,001.41.

Equinix Trading Up 0.9%

Shares of Equinix stock opened at $960.52 on Thursday. The business has a fifty day simple moving average of $823.68 and a 200-day simple moving average of $798.58. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $992.90. The firm has a market cap of $94.37 billion, a price-to-earnings ratio of 69.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06. 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 issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm posted $7.92 earnings per share. Equinix’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts forecast 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. Shareholders of record on Wednesday, February 25th will be issued a $5.16 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, February 25th. Equinix’s dividend payout ratio is currently 136.44%.

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.