Parcion Private Wealth LLC Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Parcion Private Wealth LLC bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,762 shares of the financial services provider’s stock, valued at approximately $4,359,000.

Several other hedge funds have also recently bought and sold shares of the business. Goelzer Investment Management Inc. increased its position in Equinix by 0.3% during the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock worth $3,364,000 after buying an additional 13 shares during the last quarter. Cypress Capital Group boosted its holdings in Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares during the period. Lindbrook Capital LLC boosted its holdings in Equinix by 3.0% during the first quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock valued at $402,000 after acquiring an additional 14 shares during the period. Banco Santander S.A. boosted its holdings in Equinix by 2.0% during the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 14 shares during the period. Finally, Ieq Capital LLC boosted its holdings in Equinix by 0.5% during the fourth quarter. Ieq Capital LLC now owns 2,923 shares of the financial services provider’s stock valued at $2,354,000 after acquiring an additional 15 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

NASDAQ:EQIX traded down $3.78 during mid-day trading on Friday, hitting $817.96. The company’s stock had a trading volume of 457,770 shares, compared to its average volume of 549,600. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $77.63 billion, a price-to-earnings ratio of 82.04, a P/E/G ratio of 2.03 and a beta of 0.71. The stock has a fifty day moving average of $800.75 and a 200-day moving average of $794.48.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $8.04 EPS. As a group, equities analysts forecast that Equinix, Inc. will post 31.04 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EQIX shares. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on shares of Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, TD Cowen increased their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $876.71.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,472 shares of company stock valued at $6,154,812. Corporate insiders own 0.27% of the company’s stock.

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.