GAMMA Investing LLC Buys 889,282 Shares of Equinix, Inc. (NASDAQ:EQIX)

GAMMA Investing LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 82,340.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 890,362 shares of the financial services provider’s stock after buying an additional 889,282 shares during the period. GAMMA Investing LLC owned about 0.91% of Equinix worth $725,957,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EQIX. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the 4th quarter worth approximately $28,000. Kestra Investment Management LLC purchased a new stake in Equinix in the fourth quarter worth $31,000. Pacific Center for Financial Services increased its position in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after buying an additional 15 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Equinix in the fourth quarter valued at $39,000. Finally, Sierra Ocean LLC purchased a new position in shares of Equinix during the 4th quarter valued at $42,000. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $887.43 on Friday. The company’s fifty day moving average price is $830.09 and its 200-day moving average price is $890.83. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $86.81 billion, a price-to-earnings ratio of 103.79, a PEG ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $8.86 EPS. On average, equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio is presently 195.01%.

Analyst Upgrades and Downgrades

EQIX has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, May 1st. BNP Paribas raised shares of Equinix to a “strong-buy” rating in a research report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research note on Friday, May 23rd. Finally, Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $1,004.80.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares in the company, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

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.