Concurrent Investment Advisors LLC Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

Concurrent Investment Advisors LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 10.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,468 shares of the financial services provider’s stock after purchasing an additional 137 shares during the period. Concurrent Investment Advisors LLC’s holdings in Equinix were worth $1,384,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Equinix by 302.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after purchasing an additional 813,666 shares during the period. Pathway Financial Advisers LLC grew its position in shares of Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after buying an additional 398,494 shares during the last quarter. Adelante Capital Management LLC grew its position in shares of Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after buying an additional 344,114 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, abrdn plc grew its position in shares of Equinix by 49.2% in the 4th quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock worth $437,563,000 after buying an additional 153,215 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EQIX. BMO Capital Markets cut their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Truist Financial lifted their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Wells Fargo & Company cut their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays lifted their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $994.82.

Equinix Trading Down 2.2 %

Equinix stock opened at $919.68 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $931.27 and its two-hundred day simple moving average is $901.85. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a market capitalization of $89.51 billion, a price-to-earnings ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate 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, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.04%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix’s payout ratio is 219.42%.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares of the company’s stock, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,741 shares of company stock worth $21,988,532 over the last quarter. 0.27% of the stock is currently owned by insiders.

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.