Waverly Advisors LLC Has $9.45 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Waverly Advisors LLC raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,023 shares of the financial services provider’s stock after purchasing an additional 472 shares during the period. Waverly Advisors LLC’s holdings in Equinix were worth $9,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of Equinix in the fourth quarter valued at $31,000. J.Safra Asset Management Corp acquired a new position in shares of Equinix in the fourth quarter valued at $39,000. Sierra Ocean LLC acquired a new position in shares of Equinix in the fourth quarter valued at $42,000. Thompson Investment Management Inc. acquired a new position in shares of Equinix in the fourth quarter valued at $47,000. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Equinix in the fourth quarter valued at $52,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on EQIX. Mizuho decreased their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Barclays upped their price target on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Bank of America began coverage on shares of Equinix in a research note on Monday. They issued a “buy” rating and a $1,000.00 price target on the stock. TD Securities upped their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets decreased 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. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and six have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $1,004.65.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 911 shares of company stock valued at $841,718. 0.27% of the stock is currently owned by insiders.

Equinix Stock Down 0.2%

EQIX stock opened at $875.89 on Wednesday. The stock has a market capitalization of $85.68 billion, a P/E ratio of 102.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. 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. The firm has a 50-day moving average price of $826.75 and a 200-day moving average price of $892.44.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business’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 business earned $8.86 earnings per share. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.14%. Equinix’s dividend payout ratio (DPR) is currently 195.01%.

Equinix 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.