Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 51,045 shares of the financial services provider’s stock after purchasing an additional 413 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Equinix were worth $41,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EQIX. Pinney & Scofield Inc. acquired a new position in shares of Equinix in the 4th quarter valued at about $28,000. Pacific Center for Financial Services raised its position 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 acquiring an additional 15 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 23 shares during the period. J.Safra Asset Management Corp purchased a new stake in Equinix in the 4th quarter worth approximately $39,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Equinix during the 4th quarter worth approximately $49,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider now directly owns 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares of the company’s stock, valued at $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 in the last quarter. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EQIX shares. Bank of America began coverage on shares of Equinix in a report on Monday, May 19th. They set a “buy” rating and a $1,000.00 price target on the stock. Truist Financial dropped their target price on Equinix from $990.00 to $986.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Stifel Nicolaus lifted their price target on Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Finally, Scotiabank dropped their price objective on Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $1,004.80.

Equinix Stock Up 1.9%

Shares of NASDAQ EQIX opened at $906.50 on Wednesday. The stock has a market cap of $88.67 billion, a PE ratio of 94.23, a P/E/G ratio of 1.16 and a beta of 0.97. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a 50-day moving average of $867.34 and a 200 day moving average of $884.37.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the business earned $8.86 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

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.