Rhumbline Advisers Buys 1,015 Shares of Equinix, Inc. (NASDAQ:EQIX)

Rhumbline Advisers grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 191,932 shares of the financial services provider’s stock after buying an additional 1,015 shares during the period. Rhumbline Advisers’ holdings in Equinix were worth $180,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Inspire Trust Co. N.A. lifted its holdings in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after buying an additional 11 shares in the last quarter. GS Investments Inc. increased its position in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after acquiring an additional 12 shares during the period. Ritholtz Wealth Management raised its stake in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after acquiring an additional 12 shares in the last quarter. Great Lakes Retirement Inc. boosted its holdings in shares of Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after purchasing an additional 12 shares during the period. Finally, GHP Investment Advisors Inc. grew its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares in the company, valued at $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,801 shares of company stock valued at $15,530,564 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Equinix Trading Up 1.1 %

Shares of NASDAQ:EQIX opened at $933.60 on Friday. The business’s 50-day moving average is $935.90 and its 200 day moving average is $894.96. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The firm has a market capitalization of $90.08 billion, a P/E ratio of 84.18, a P/E/G ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last issued its quarterly 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 return on equity of 8.34% and a net margin of 12.29%. On average, research analysts predict that Equinix, Inc. will post 31.09 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s payout ratio is presently 153.65%.

Analysts Set New Price Targets

EQIX has been the subject of a number of research analyst reports. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. TD Cowen increased their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Oppenheimer boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday. Finally, BMO Capital Markets dropped 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 research note on Thursday. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Buy” and an average target price of $994.82.

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.