Maridea Wealth Management LLC Makes New $601,000 Investment in Equinix, Inc. $EQIX

Maridea Wealth Management LLC bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 728 shares of the financial services provider’s stock, valued at approximately $601,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Westside Investment Management Inc. boosted its position in Equinix by 190.9% in the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Equinix during the 2nd quarter valued at $26,000. Bank of Jackson Hole Trust raised its stake in shares of Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 14 shares during the period. Abound Wealth Management boosted its holdings in shares of Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 23 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Equinix in the 2nd quarter worth about $28,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $924.24 on Thursday. The company has a 50 day moving average of $805.03 and a 200 day moving average of $792.85. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The stock has a market cap of $90.81 billion, a P/E ratio of 67.22, a P/E/G ratio of 1.59 and a beta of 1.06. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $7.92 EPS. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a $5.16 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Equinix’s payout ratio is currently 136.44%.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 1,333 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the transaction, the insider directly owned 9,551 shares in the company, valued at $7,681,391.75. This trade represents a 12.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,670 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.08, for a total value of $2,146,893.60. Following the completion of the transaction, the chief executive officer directly owned 14,857 shares in the company, valued at $11,946,216.56. This trade represents a 15.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,353 shares of company stock valued at $11,283,043. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Guggenheim raised their price objective on shares of Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. HSBC set a $1,050.00 price target on shares of Equinix and gave the stock a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. raised their target price on Equinix from $950.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Barclays reiterated a “positive” rating and set a $870.00 price target on shares of Equinix in a research note on Tuesday, January 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Equinix in a report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,001.41.

About Equinix

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.