Masterton Capital Management LP Purchases New Shares in Equinix, Inc. (NASDAQ:EQIX)

Masterton Capital Management LP acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,800 shares of the financial services provider’s stock, valued at approximately $5,145,000. Equinix makes up approximately 3.7% of Masterton Capital Management LP’s holdings, making the stock its 11th largest position.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio grew its holdings in Equinix by 0.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after purchasing an additional 1,159 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Equinix in the fourth quarter valued at about $3,724,000. Global Assets Advisory LLC acquired a new stake in shares of Equinix in the first quarter valued at about $15,187,000. Schroder Investment Management Group raised its position in shares of Equinix by 0.6% during the 4th quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after purchasing an additional 1,547 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in Equinix by 48.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after buying an additional 2,133 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EQIX shares. Truist Financial boosted their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. TD Cowen boosted their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. Royal Bank of Canada cut their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Finally, Barclays boosted their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

Equinix Price Performance

EQIX opened at $881.92 on Tuesday. The stock’s 50-day moving average price is $821.97 and its 200 day moving average price is $791.59. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The firm has a market cap of $83.70 billion, a price-to-earnings ratio of 88.46, a PEG ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $8.04 EPS. As a group, sell-side analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.93%. Equinix’s dividend payout ratio (DPR) is 170.91%.

Equinix Company 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.