Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Vert Asset Management LLC

Vert Asset Management LLC boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,459 shares of the financial services provider’s stock after acquiring an additional 750 shares during the quarter. Equinix accounts for approximately 6.9% of Vert Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Vert Asset Management LLC’s holdings in Equinix were worth $19,943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EQIX. Norges Bank acquired a new position in shares of Equinix in the fourth quarter valued at approximately $1,067,270,000. GAMMA Investing LLC grew its holdings in Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock valued at $725,957,000 after purchasing an additional 889,282 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Equinix by 65.3% during the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock valued at $1,399,042,000 after acquiring an additional 586,034 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Equinix during the fourth quarter worth about $328,899,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, May 1st. Stifel Nicolaus boosted their price objective on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Bank of America initiated coverage on Equinix in a report on Monday, May 19th. They issued a “buy” rating and a $1,000.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target 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. Two investment 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. According to data from MarketBeat, Equinix has a consensus rating of “Buy” and a consensus price target of $1,004.80.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the sale, the director now directly owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the company’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $914.43 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The company has a 50-day simple moving average of $839.65 and a two-hundred day simple moving average of $890.24. The firm has a market capitalization of $89.45 billion, a PE ratio of 106.95, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

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

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s payout ratio is 195.01%.

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.