Napatree Capital LLC Acquires Shares of 256 Equinix, Inc. (NASDAQ:EQIX)

Napatree Capital LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 256 shares of the financial services provider’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. raised its stake in shares of Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after buying an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after buying an additional 2,560 shares during the last quarter. National Pension Service raised its stake in shares of Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after buying an additional 3,164 shares during the last quarter. Brookfield Corp ON raised its stake in shares of Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after buying an additional 32,481 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 2.0 %

Equinix stock opened at $834.59 on Monday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a 50 day moving average of $903.56 and a 200-day moving average of $909.38. The stock has a market capitalization of $81.23 billion, a PE ratio of 97.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.25%. Equinix’s dividend payout ratio is presently 219.42%.

Insider Buying and Selling

In other Equinix news, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the sale, the insider now directly owns 1,430 shares of the company’s stock, valued at approximately $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday. Royal Bank of Canada boosted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Scotiabank boosted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Oppenheimer boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, BMO Capital Markets decreased their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Equinix has an average rating of “Buy” and a consensus target price of $990.06.

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.