Perigon Wealth Management LLC Raises Holdings in Equinix, Inc. $EQIX

Perigon Wealth Management LLC lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 141.1% during the 4th quarter, HoldingsChannel reports. The firm owned 3,178 shares of the financial services provider’s stock after acquiring an additional 1,860 shares during the quarter. Perigon Wealth Management LLC’s holdings in Equinix were worth $2,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its position in Equinix by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after acquiring an additional 7,409 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after acquiring an additional 588,967 shares during the period. Chilton Capital Management LLC grew its position in Equinix by 5.1% in the 3rd quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock valued at $28,908,000 after acquiring an additional 1,805 shares during the last quarter. Foresight Group Ltd Liability Partnership grew its stake in Equinix by 10.0% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock worth $20,425,000 after acquiring an additional 2,378 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Equinix by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock worth $376,193,000 after buying an additional 32,790 shares during the period. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on EQIX shares. Citigroup restated a “buy” rating on shares of Equinix in a report on Thursday, February 12th. Guggenheim boosted their price target on Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Jefferies Financial Group upped their price objective on Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. TD Cowen reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Finally, Sanford C. Bernstein assumed coverage on shares of Equinix in a report on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,016.86.

Insiders Place Their Bets

In other news, Chairman Charles J. Meyers sold 305 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $961.19, for a total transaction of $293,162.95. Following the sale, the chairman owned 12,594 shares in the company, valued at approximately $12,105,226.86. The trade was a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 584 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.69, for a total transaction of $563,962.96. Following the transaction, the executive vice president owned 7,768 shares in the company, valued at approximately $7,501,479.92. This trade represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,842 shares of company stock valued at $14,494,840. 0.27% of the stock is currently owned by corporate insiders.

Equinix Price Performance

NASDAQ EQIX opened at $1,000.37 on Friday. The firm’s fifty day simple moving average is $927.01 and its two-hundred day simple moving average is $834.34. The firm has a market capitalization of $98.29 billion, a P/E ratio of 72.75, a P/E/G ratio of 2.57 and a beta of 1.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $1,006.56.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.92 EPS. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date was Wednesday, February 25th. Equinix’s dividend payout ratio (DPR) is 150.11%.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.