Legacy Capital Wealth Partners LLC Has $270,000 Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Legacy Capital Wealth Partners LLC lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 332 shares of the financial services provider’s stock after purchasing an additional 26 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Equinix were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Norges Bank purchased a new stake in shares of Equinix during the fourth quarter valued at $1,067,270,000. GAMMA Investing LLC raised its holdings in Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock worth $725,957,000 after purchasing an additional 889,282 shares during the period. Northern Trust Corp increased its position in shares of Equinix by 65.3% during the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the last quarter. Wellington Management Group LLP grew its position 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 worth $1,701,188,000 after buying an additional 401,991 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Equinix in the fourth quarter valued at approximately $205,641,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.3%

Shares of NASDAQ EQIX opened at $775.57 on Friday. The firm has a 50-day moving average price of $847.91 and a 200 day moving average price of $864.45. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The stock has a market capitalization of $75.87 billion, a price-to-earnings ratio of 80.62, a price-to-earnings-growth ratio of 1.30 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20.

Equinix (NASDAQ:EQIX) last released its earnings results 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. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the company earned $8.86 EPS. Equinix’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.42%. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Insider Activity at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider owned 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock worth $2,808,008 in the last quarter. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

EQIX has been the subject of several recent research reports. UBS Group cut their price target on Equinix from $1,035.00 to $950.00 and set a “buy” rating for the company in a report on Friday, July 11th. JPMorgan Chase & Co. dropped their price objective on shares of Equinix from $975.00 to $935.00 and set an “overweight” rating for the company in a research note on Thursday, June 26th. BNP Paribas raised Equinix to a “strong-buy” rating in a research note on Thursday, May 1st. New Street Research upgraded Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Finally, TD Securities upped their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $957.05.

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.