Dynamic Technology Lab Private Ltd bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 597 shares of the financial services provider’s stock, valued at approximately $481,000.
Several other hedge funds also recently added to or reduced their stakes in the business. Valley National Advisers Inc. boosted its stake in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares during the last quarter. Providence Capital Advisors LLC acquired a new position in shares of Equinix during the third quarter valued at approximately $29,000. Criterion Capital Advisors LLC acquired a new position in shares of Equinix during the fourth quarter valued at approximately $32,000. Operose Advisors LLC acquired a new position in shares of Equinix during the third quarter valued at approximately $36,000. Finally, Asset Dedication LLC increased its holdings in shares of Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 25 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.
Equinix Price Performance
Shares of NASDAQ:EQIX opened at $766.12 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The firm has a market capitalization of $72.71 billion, a price-to-earnings ratio of 76.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.62. The business’s 50 day simple moving average is $770.84 and its 200-day simple moving average is $805.58.
Equinix Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.22%. Equinix’s dividend payout ratio is currently 170.91%.
Insider Buying and Selling at Equinix
In other news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on EQIX shares. TD Cowen lowered their price objective on Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Truist Financial lifted their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. BMO Capital Markets raised their price target on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Royal Bank of Canada lifted their target price on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Oppenheimer lifted their target price on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $874.44.
View Our Latest Stock Report on EQIX
About Equinix
(Free Report)
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.
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