Altman Advisors Inc. Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Altman Advisors Inc. increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,022 shares of the financial services provider’s stock after buying an additional 64 shares during the period. Altman Advisors Inc.’s holdings in Equinix were worth $1,741,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp grew its stake in shares of Equinix by 8.2% in the 1st quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider’s stock worth $42,643,000 after buying an additional 3,981 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Equinix by 71.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider’s stock worth $60,690,000 after buying an additional 31,073 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of Equinix in the 1st quarter worth approximately $451,000. Miller Howard Investments Inc. NY grew its stake in shares of Equinix by 20.1% in the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider’s stock worth $3,150,000 after buying an additional 646 shares during the last quarter. Finally, CapWealth Advisors LLC grew its stake in shares of Equinix by 4.1% in the 1st quarter. CapWealth Advisors LLC now owns 24,149 shares of the financial services provider’s stock worth $19,690,000 after buying an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $759.96 on Wednesday. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The stock’s fifty day moving average is $851.73 and its 200 day moving average is $866.25. The stock has a market cap of $74.34 billion, a P/E ratio of 79.00, a P/E/G ratio of 1.29 and a beta of 0.93. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. Equinix’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $8.86 EPS. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.47%. Equinix’s dividend payout ratio is presently 195.01%.

Analysts Set New Price Targets

Several analysts have commented on EQIX shares. JPMorgan Chase & Co. cut their target price on Equinix from $975.00 to $935.00 and set an “overweight” rating on the stock in a research note on Thursday, June 26th. TD Securities increased their target price on Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Guggenheim started coverage on Equinix in a research note on Thursday, July 10th. They set a “buy” rating and a $933.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, June 26th. Finally, New Street Research upgraded Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $957.05.

Insider Buying and Selling at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider directly owned 1,842 shares of the company’s stock, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director directly owned 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock valued at $2,808,008 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

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.