Equinix, Inc. (NASDAQ:EQIX) Stake Lifted by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 7.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 341 shares of the financial services provider’s stock after buying an additional 24 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Equinix were worth $258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EQIX. Cypress Capital Group lifted its position in Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group boosted its position in shares of Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after buying an additional 13 shares during the period. Lindbrook Capital LLC grew its holdings in Equinix by 3.0% in the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after buying an additional 14 shares in the last quarter. Banco Santander S.A. increased its position in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 14 shares during the period. Finally, Abbrea Capital LLC raised its stake in Equinix by 5.5% during the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 14 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Up 0.7 %

NASDAQ:EQIX opened at $877.20 on Friday. The stock has a fifty day simple moving average of $820.42 and a 200 day simple moving average of $792.56. The firm has a market capitalization of $83.25 billion, a price-to-earnings ratio of 87.98, 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. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

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

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.94%. Equinix’s payout ratio is currently 170.91%.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 over the last quarter. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TD Cowen increased their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Barclays boosted their target price on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Truist Financial upped their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group initiated coverage on Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.