Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Front Row Advisors LLC

Front Row Advisors LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 3,575 shares of the financial services provider’s stock after purchasing an additional 16 shares during the period. Equinix makes up 1.2% of Front Row Advisors LLC’s investment portfolio, making the stock its 20th biggest position. Front Row Advisors LLC’s holdings in Equinix were worth $3,371,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Equinix during the fourth quarter worth $1,067,270,000. Wellington Management Group LLP grew its stake in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock worth $1,701,188,000 after acquiring an additional 401,991 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Equinix in the fourth quarter worth approximately $328,899,000. Proficio Capital Partners LLC purchased a new stake in shares of Equinix during the 4th quarter worth about $246,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $815.35 on Tuesday. The stock’s 50 day moving average price is $893.95 and its 200-day moving average price is $908.64. The company has a market capitalization of $79.36 billion, a PE ratio of 95.36, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. 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 posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.30%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Insiders Place Their Bets

In other news, Chairman Charles J. Meyers sold 3,562 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total value of $3,309,240.48. Following the completion of the transaction, the chairman now owns 15,513 shares of the company’s stock, valued at $14,412,197.52. This represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EQIX shares. Truist Financial cut their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. BMO Capital Markets dropped their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Mizuho lowered their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research report on Friday. Scotiabank boosted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Finally, Oppenheimer boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Equinix has an average rating of “Buy” and a consensus price target of $1,007.59.

Equinix 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.