Greykasell Wealth Strategies Inc. Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Greykasell Wealth Strategies Inc. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,909 shares of the financial services provider’s stock, valued at approximately $2,742,000. Equinix comprises approximately 1.5% of Greykasell Wealth Strategies Inc.’s investment portfolio, making the stock its 20th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Principal Financial Group Inc. boosted its stake in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Equinix by 63.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,487 shares of the financial services provider’s stock worth $1,320,000 after purchasing an additional 575 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Equinix by 14.9% during the 3rd quarter. Victory Capital Management Inc. now owns 44,651 shares of the financial services provider’s stock worth $39,634,000 after purchasing an additional 5,786 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Equinix by 7.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,527 shares of the financial services provider’s stock worth $6,681,000 after purchasing an additional 528 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Equinix by 5.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,215 shares of the financial services provider’s stock worth $4,629,000 after purchasing an additional 268 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on EQIX shares. Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Truist Financial reduced their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Scotiabank lifted their price target on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Stifel Nicolaus lifted their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets reduced their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $989.35.

Insider Buying and Selling at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 341 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the transaction, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last three months. Insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.4 %

EQIX stock opened at $837.68 on Friday. The company’s 50 day moving average price is $912.40 and its 200 day moving average price is $907.43. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a market capitalization of $81.53 billion, a price-to-earnings ratio of 97.97, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio is currently 219.42%.

Equinix Company 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.