First National Bank of Mount Dora Trust Investment Services purchased a new stake in Equinix, Inc. (REIT) (NASDAQ:EQIX) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,620 shares of the financial services provider’s stock, valued at approximately $2,460,000.
A number of other institutional investors also recently added to or reduced their stakes in EQIX. Key Financial Inc bought a new stake in shares of Equinix in the 4th quarter worth about $26,000. WD Rutherford LLC acquired a new stake in shares of Equinix during the fourth quarter worth approximately $29,000. GoalVest Advisory LLC acquired a new position in shares of Equinix in the 4th quarter worth approximately $30,000. Ellevest Inc. grew its position in Equinix by 1,333.3% during the 4th quarter. Ellevest Inc. now owns 43 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 40 shares during the last quarter. Finally, Wolff Wiese Magana LLC acquired a new stake in Equinix during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.
In related news, CEO Charles J. Meyers sold 4,947 shares of the business’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $716.77, for a total value of $3,545,861.19. Following the completion of the sale, the chief executive officer now directly owns 13,301 shares in the company, valued at approximately $9,533,757.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles J. Meyers sold 59 shares of the stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $723.64, for a total value of $42,694.76. The disclosure for this sale can be found here. Insiders have sold a total of 26,722 shares of company stock worth $18,731,932 over the last three months. 0.51% of the stock is owned by insiders.
EQIX traded up $9.86 during trading hours on Thursday, hitting $694.31. 1,654 shares of the company’s stock were exchanged, compared to its average volume of 589,474. The stock has a market cap of $61.99 billion, a price-to-earnings ratio of 134.21, a PEG ratio of 1.99 and a beta of 0.31. Equinix, Inc. has a 1-year low of $586.73 and a 1-year high of $839.77. The stock’s 50-day moving average is $659.35 and its two-hundred day moving average is $717.67. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.96.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Tuesday, February 9th. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.96). The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. Equinix had a return on equity of 4.62% and a net margin of 7.58%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. On average, equities research analysts anticipate that Equinix, Inc. will post 21.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 17th. Stockholders of record on Wednesday, February 24th were paid a dividend of $2.87 per share. This is an increase from Equinix’s previous quarterly dividend of $2.66. This represents a $11.48 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 23rd. Equinix’s payout ratio is currently 50.33%.
EQIX has been the subject of a number of research analyst reports. Raymond James lifted their price target on Equinix from $835.00 to $856.00 and gave the company a “strong-buy” rating in a report on Thursday, February 11th. Citigroup decreased their price target on shares of Equinix from $883.00 to $849.00 and set a “buy” rating on the stock in a research note on Friday, February 12th. Cowen reduced their price objective on Equinix from $864.00 to $811.00 and set an “outperform” rating on the stock in a report on Thursday, February 11th. TheStreet cut Equinix from a “b-” rating to a “c+” rating in a research note on Wednesday, January 6th. Finally, Wolfe Research began coverage on Equinix in a research note on Thursday, March 18th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Equinix currently has a consensus rating of “Buy” and a consensus target price of $819.30.
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.
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