Harvest Fund Management Co. Ltd Buys Shares of 817 Equinix, Inc. (NASDAQ:EQIX)

Harvest Fund Management Co. Ltd bought a new stake in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 817 shares of the financial services provider’s stock, valued at approximately $770,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC bought a new stake in shares of Equinix in the fourth quarter valued at about $31,000. J.Safra Asset Management Corp bought a new stake in shares of Equinix in the fourth quarter valued at about $39,000. Sierra Ocean LLC bought a new stake in shares of Equinix in the fourth quarter valued at about $42,000. Dunhill Financial LLC lifted its holdings in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in shares of Equinix in the fourth quarter valued at about $47,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

Equinix stock opened at $851.72 on Friday. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The stock’s 50 day moving average is $904.87 and its 200-day moving average is $908.27. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $82.90 billion, a price-to-earnings ratio of 99.62, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.20%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Truist Financial dropped their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Finally, Oppenheimer boosted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $990.06.

Equinix 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.