Ranch Capital Advisors Inc. Increases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Ranch Capital Advisors Inc. increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300 shares of the financial services provider’s stock after buying an additional 26 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Equinix were worth $227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CNB Bank raised its position in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the period. LRI Investments LLC purchased a new stake in Equinix in the first quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix during the second quarter worth $30,000. Rise Advisors LLC bought a new position in shares of Equinix in the first quarter worth about $39,000. Finally, Meeder Asset Management Inc. bought a new stake in Equinix during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,043 shares of company stock worth $8,282,119. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $870.99 on Friday. The business has a fifty day moving average of $818.98 and a 200 day moving average of $793.53. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $82.66 billion, a price-to-earnings ratio of 87.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.04 earnings per share. As a group, research analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.96%. Equinix’s dividend payout ratio is presently 170.91%.

Analyst Ratings Changes

A number of brokerages recently issued reports on EQIX. Royal Bank of Canada lowered their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Finally, Mizuho upped their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

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.