Alpine Woods Capital Investors LLC Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

Alpine Woods Capital Investors LLC raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,585 shares of the financial services provider’s stock after acquiring an additional 627 shares during the quarter. Equinix makes up 1.8% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 13th biggest position. Alpine Woods Capital Investors LLC’s holdings in Equinix were worth $7,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new position in Equinix in the fourth quarter valued at about $28,000. Pacific Center for Financial Services lifted its stake in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after buying an additional 15 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after buying an additional 23 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Equinix by 40.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider’s stock valued at $34,000 after buying an additional 12 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in shares of Equinix during the 4th quarter valued at approximately $49,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EQIX has been the topic of several recent analyst reports. Scotiabank lowered their target price on shares of Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 26th. The Goldman Sachs Group decreased their price target on shares of Equinix from $1,020.00 to $880.00 and set a “buy” rating on the stock in a report on Wednesday, July 2nd. BNP Paribas raised shares of Equinix to a “strong-buy” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Equinix from $975.00 to $935.00 and set an “overweight” rating on the stock in a report on Thursday, June 26th. Finally, Citigroup increased their price target on shares of Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix has a consensus rating of “Buy” and a consensus price target of $960.55.

Equinix Stock Performance

Shares of EQIX stock opened at $764.71 on Thursday. The company has a 50 day moving average price of $860.95 and a 200-day moving average price of $871.97. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The firm has a market capitalization of $74.80 billion, a PE ratio of 79.49, a P/E/G ratio of 1.10 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 announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) 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 analyst estimates of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $8.86 earnings per share. As a group, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.45%. Equinix’s dividend payout ratio (DPR) is 195.01%.

Insider Buying and Selling at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the business’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 owned 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the business’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 directly owned 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock valued at $2,808,008 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

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.