Checchi Capital Advisers LLC Boosts Holdings in Equinix, Inc. (NASDAQ:EQIX)

Checchi Capital Advisers LLC lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,224 shares of the financial services provider’s stock after buying an additional 20 shares during the period. Checchi Capital Advisers LLC’s holdings in Equinix were worth $1,154,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EQIX. State Street Corp grew its position in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares during the last quarter. Geode Capital Management LLC grew its position in Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the last quarter. Principal Financial Group Inc. grew its position in Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. grew its position in Equinix by 17.9% during 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 purchasing an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Equinix by 5.0% in the 3rd 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 acquiring an additional 53,729 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Cowen raised their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial raised their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Scotiabank reduced their target price on shares of 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. Royal Bank of Canada raised their target price 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. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $994.82.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $910.03 on Thursday. The company has a market cap of $88.58 billion, a PE ratio of 106.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company has a 50-day simple moving average of $928.88 and a 200-day simple moving average of $904.07.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS 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 analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.06%. Equinix’s payout ratio is 219.42%.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 in the company, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,741 shares of company stock worth $21,988,532 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

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.