Summit Global Investments Raises Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Summit Global Investments raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 69.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 538 shares of the financial services provider’s stock after buying an additional 221 shares during the period. Summit Global Investments’ holdings in Equinix were worth $507,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of Equinix during the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix in the 4th quarter worth approximately $39,000. Sierra Ocean LLC bought a new stake in shares of Equinix in the 4th quarter worth approximately $42,000. Dunhill Financial LLC grew its position in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. purchased a new position in shares of Equinix during the fourth quarter valued at approximately $47,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at $20,085,186.32. This represents a 12.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the completion of the sale, the insider now directly owns 1,430 shares of the company’s stock, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

EQIX has been the topic of several recent analyst reports. Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Three equities research 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 stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $990.06.

Equinix Stock Performance

EQIX stock opened at $852.44 on Tuesday. The stock’s 50 day simple moving average is $902.62 and its 200 day simple moving average is $909.60. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The stock has a market capitalization of $82.97 billion, a PE ratio of 99.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.20%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

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.