Greykasell Wealth Strategies Inc. Invests $2.74 Million in Equinix, Inc. (NASDAQ:EQIX)

Greykasell Wealth Strategies Inc. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, HoldingsChannel reports. The fund bought 2,909 shares of the financial services provider’s stock, valued at approximately $2,742,000. Equinix comprises about 1.5% of Greykasell Wealth Strategies Inc.’s investment portfolio, making the stock its 20th biggest holding.

A number of other hedge funds have also modified their holdings of the business. First National Trust Co grew its position in shares of Equinix by 3.8% during the fourth quarter. First National Trust Co now owns 7,539 shares of the financial services provider’s stock worth $7,108,000 after acquiring an additional 276 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Equinix by 163.1% during the fourth quarter. First Eagle Investment Management LLC now owns 221 shares of the financial services provider’s stock worth $208,000 after acquiring an additional 137 shares during the last quarter. Analyst IMS Investment Management Services Ltd. grew its position in shares of Equinix by 24.9% during the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 296 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 59 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in shares of Equinix by 2.1% during the fourth quarter. Intact Investment Management Inc. now owns 4,920 shares of the financial services provider’s stock worth $4,639,000 after purchasing an additional 100 shares during the period. Finally, Aviso Financial Inc. lifted its holdings in shares of Equinix by 28.3% during the fourth quarter. Aviso Financial Inc. now owns 2,514 shares of the financial services provider’s stock worth $2,370,000 after purchasing an additional 554 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Truist Financial decreased their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Stifel Nicolaus increased their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $989.35.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The stock was 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 in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Up 0.4 %

NASDAQ:EQIX opened at $837.68 on Friday. The company has a market capitalization of $81.53 billion, a PE ratio of 97.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The stock has a fifty day simple moving average of $912.40 and a 200-day simple moving average of $907.43.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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%. On average, equities research analysts expect 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 will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

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.