Net Worth Advisory Group Purchases New Stake in Equinix, Inc. (NASDAQ:EQIX)

Net Worth Advisory Group acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 660 shares of the financial services provider’s stock, valued at approximately $538,000.

Several other large investors also recently made changes to their positions in EQIX. Rothschild Investment LLC increased its holdings in Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in shares of Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock worth $340,000 after buying an additional 11 shares during the period. Great Lakes Retirement Inc. grew its stake in shares of Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after buying an additional 12 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Equinix by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after buying an additional 12 shares during the period. Finally, First Financial Bankshares Inc lifted its position in Equinix by 0.5% during the 4th quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider’s stock worth $2,329,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of several recent research reports. Wolfe Research downgraded shares of Equinix from an “outperform” rating to a “peer perform” rating in a research report on Monday. Scotiabank lowered their price target on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 22nd. BNP Paribas upgraded shares of Equinix to a “strong-buy” rating in a report on Thursday, May 1st. Oppenheimer upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus lifted their target price on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $1,004.80.

Equinix Stock Down 1.5%

Shares of Equinix stock opened at $893.70 on Thursday. The stock has a market capitalization of $87.42 billion, a price-to-earnings ratio of 104.53, a PEG ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. 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 business’s 50 day simple moving average is $845.84 and its 200-day simple moving average is $890.18.

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

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, May 21st. Equinix’s payout ratio is 195.01%.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer now directly owns 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock valued at $2,808,008 in the last ninety days. Company insiders own 0.27% of the company’s stock.

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.