Perkins Coie Trust Co Buys Shares of 70 Equinix, Inc. (NASDAQ:EQIX)

Perkins Coie Trust Co bought a new stake in Equinix, Inc. (NASDAQ:EQIX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 70 shares of the financial services provider’s stock, valued at approximately $57,000.

Several other institutional investors and hedge funds also recently bought and sold shares of EQIX. Pinney & Scofield Inc. acquired a new position in Equinix in the 4th quarter valued at about $28,000. Kestra Investment Management LLC acquired a new position in Equinix in the 4th quarter valued at about $31,000. Whipplewood Advisors LLC boosted its holdings in Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 23 shares during the last quarter. Pacific Center for Financial Services boosted its holdings in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in Equinix in the 4th quarter valued at about $39,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus boosted their price target on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Cowen reissued a “buy” rating on shares of Equinix in a research note on Thursday, May 1st. Oppenheimer boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Cfra Research raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Two research analysts have rated the stock with a hold rating, twenty have given a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Buy” and a consensus price target of $1,004.80.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now owns 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock valued at $2,808,008 over the last quarter. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

Shares of EQIX stock opened at $914.43 on Friday. The company has a market cap of $89.45 billion, a P/E ratio of 106.95, a PEG ratio of 1.78 and a beta of 0.97. The firm has a fifty day moving average price of $839.65 and a 200 day moving average price of $890.68. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equinix’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.86 earnings per share. Sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

About Equinix

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.