EntryPoint Capital LLC Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

EntryPoint Capital LLC boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 234.8% in the first quarter, Holdings Channel reports. The institutional investor owned 77 shares of the financial services provider’s stock after acquiring an additional 54 shares during the period. EntryPoint Capital LLC’s holdings in Equinix were worth $64,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EQIX. Procyon Advisors LLC lifted its holdings in Equinix by 12.3% during the fourth quarter. Procyon Advisors LLC now owns 568 shares of the financial services provider’s stock worth $457,000 after buying an additional 62 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Equinix by 13.9% during the 4th quarter. Ritholtz Wealth Management now owns 589 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 72 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Equinix by 76.7% during the 4th quarter. Blue Trust Inc. now owns 152 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 66 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Equinix by 11.7% during the 4th quarter. Global Retirement Partners LLC now owns 906 shares of the financial services provider’s stock valued at $742,000 after purchasing an additional 95 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Equinix by 9.1% during the 4th quarter. Caprock Group LLC now owns 1,873 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

EQIX traded up $3.12 during midday trading on Friday, hitting $772.43. 541,016 shares of the company were exchanged, compared to its average volume of 366,784. The company’s 50 day simple moving average is $770.49 and its 200 day simple moving average is $797.07. The firm has a market capitalization of $73.31 billion, a price-to-earnings ratio of 77.48, a price-to-earnings-growth ratio of 2.66 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 1-year low of $677.80 and a 1-year high of $914.93.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s 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 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s 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 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the firm’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 sale, the director now owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of several analyst reports. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $825.00 to $875.00 in a report on Tuesday. The Goldman Sachs Group initiated coverage on Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Barclays increased their price objective on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Royal Bank of Canada reduced their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Finally, Mizuho assumed coverage on Equinix in a research note on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price for the company. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $875.50.

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.