Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Richelieu Gestion SA

Richelieu Gestion SA lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 700.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 200 shares of the financial services provider’s stock after buying an additional 175 shares during the quarter. Richelieu Gestion SA’s holdings in Equinix were worth $165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EQIX. Valley National Advisers Inc. boosted its position 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 acquiring an additional 26 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Equinix during the 4th quarter worth $32,000. Operose Advisors LLC acquired a new stake in shares of Equinix during the 3rd quarter worth $36,000. Asset Dedication LLC grew its position in Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 25 shares during the period. Finally, Rise Advisors LLC acquired a new stake in Equinix during the 1st quarter worth approximately $39,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

NASDAQ:EQIX traded down $3.28 during midday trading on Wednesday, hitting $739.58. 367,904 shares of the stock were exchanged, compared to its average volume of 596,049. The company has a market capitalization of $70.19 billion, a price-to-earnings ratio of 74.46, a P/E/G ratio of 2.59 and a beta of 0.68. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The business has a 50-day moving average price of $755.29 and a two-hundred day moving average price of $801.24.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.30%. Equinix’s dividend payout ratio is currently 170.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Cowen reduced their price objective on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Royal Bank of Canada dropped their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research note on Wednesday, March 20th. Morgan Stanley cut their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $872.50.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on 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 sale, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the firm’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 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 corporate insiders.

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.