Moran Wealth Management LLC boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265 shares of the financial services provider’s stock after acquiring an additional 32 shares during the period. Moran Wealth Management LLC’s holdings in Equinix were worth $216,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of EQIX. Brighton Jones LLC grew its stake in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 73 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in shares of Equinix in the 4th quarter valued at approximately $2,027,000. IFP Advisors Inc grew its stake in shares of Equinix by 434.1% in the 4th quarter. IFP Advisors Inc now owns 486 shares of the financial services provider’s stock valued at $459,000 after buying an additional 395 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after buying an additional 3,212 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Equinix in the 4th quarter valued at approximately $246,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.
Equinix Stock Up 5.3%
Shares of NASDAQ EQIX opened at $785.11 on Friday. 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, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The firm has a 50-day moving average price of $867.26 and a 200 day moving average price of $881.19. The stock has a market capitalization of $76.80 billion, a price-to-earnings ratio of 81.61, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97.
Equinix Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Wednesday, May 21st. Equinix’s payout ratio is currently 195.01%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. BMO Capital Markets cut shares of Equinix from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $1,045.00 to $850.00 in a research note on Thursday. Barclays increased their price target on shares of Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 27th. Truist Financial dropped their price target on shares of Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Wells Fargo & Company decreased their price objective on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Equinix from $975.00 to $935.00 and set an “overweight” rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix has a consensus rating of “Buy” and a consensus price target of $977.30.
Read Our Latest Research Report on EQIX
Insiders Place Their Bets
In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer now owns 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,176 shares of company stock worth $2,808,008. Insiders own 0.27% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Equinix
- 5 discounted opportunities for dividend growth investors
- EA Just Caught a Monster Upgrade: Bullish Breakout Ahead?
- About the Markup Calculator
- 3 Stocks Hitting All-Time Highs With More Room to Run
- What is the S&P 500 and How It is Distinct from Other Indexes
- QuantumScape Soars 30%: What Drove the Next-Gen EV Stock’s Rally
Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX – Free Report).
Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.