Equinix, Inc. $EQIX Shares Bought by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. grew its position in Equinix, Inc. (NASDAQ:EQIX) by 24.0% during the 3rd quarter, Holdings Channel reports. The fund owned 3,100 shares of the financial services provider’s stock after buying an additional 600 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Equinix were worth $2,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC lifted its position in Equinix by 4.2% in the third quarter. Quent Capital LLC now owns 298 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 12 shares during the period. CVA Family Office LLC increased its position in Equinix by 10.9% during the 2nd quarter. CVA Family Office LLC now owns 132 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 13 shares during the period. Flputnam Investment Management Co. raised its stake in shares of Equinix by 1.0% during the 3rd quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 13 shares in the last quarter. Paragon Private Wealth Management LLC raised its stake in shares of Equinix by 2.7% during the 3rd quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider’s stock worth $388,000 after buying an additional 13 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Equinix by 40.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after buying an additional 13 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the transaction, the executive vice president directly owned 7,337 shares in the company, valued at $5,882,659.86. The trade was a 11.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 2,094 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.14, for a total value of $1,683,869.16. Following the completion of the sale, the chairman directly owned 13,253 shares in the company, valued at approximately $10,657,267.42. The trade was a 13.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,353 shares of company stock worth $11,283,043. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on EQIX. TD Cowen reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, February 12th. Scotiabank restated an “outperform” rating on shares of Equinix in a research report on Thursday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Equinix from $950.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Jefferies Financial Group increased their price target on shares of Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, BMO Capital Markets boosted their price objective on shares of Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $1,001.41.

Equinix Trading Up 1.1%

Shares of EQIX stock opened at $928.11 on Friday. The stock has a market cap of $91.19 billion, a P/E ratio of 67.50, a P/E/G ratio of 1.84 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, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $992.90. The business has a fifty day simple moving average of $811.86 and a 200-day simple moving average of $794.87.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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 analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the firm earned $7.92 earnings per share. Equinix’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be given a $5.16 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, February 25th. Equinix’s dividend payout ratio (DPR) 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.