Concurrent Investment Advisors LLC Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Concurrent Investment Advisors LLC boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.3% in the fourth quarter, Holdings Channel reports. The fund owned 1,468 shares of the financial services provider’s stock after purchasing an additional 137 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Equinix were worth $1,384,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares during the last quarter. Geode Capital Management LLC increased its position in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after buying an additional 33,277 shares in the last quarter. Principal Financial Group Inc. increased its position in Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after buying an additional 44,471 shares in the last quarter. JPMorgan Chase & Co. increased its position in Equinix by 17.9% in the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $919.68 on Friday. The stock has a 50 day moving average of $931.27 and a 200 day moving average of $901.85. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market cap of $89.51 billion, a PE ratio of 107.56, a PEG ratio of 1.78 and a beta of 0.72. 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 (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Equinix, Inc. will post 33.1 EPS 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 $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,741 shares of company stock valued at $21,988,532 in the last ninety days. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of analyst reports. BMO Capital Markets reduced their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company dropped their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Truist Financial upped their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Scotiabank dropped their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Three investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $994.82.

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.