Prosperity Financial Group Inc. Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Prosperity Financial Group Inc. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284 shares of the financial services provider’s stock after purchasing an additional 25 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Equinix were worth $268,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Equinix during the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix during the 4th quarter valued at approximately $39,000. Sierra Ocean LLC purchased a new position in shares of Equinix during the 4th quarter valued at approximately $42,000. Dunhill Financial LLC increased its holdings in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in Equinix in the 4th quarter worth $47,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Up 0.7 %

Shares of EQIX stock opened at $836.24 on Wednesday. The company’s 50-day moving average price is $918.81 and its 200-day moving average price is $908.19. 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 stock has a market cap of $81.39 billion, a price-to-earnings ratio of 97.81, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last issued 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 net margin of 9.32% and a return on equity of 6.31%. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current 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 issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s payout ratio is 219.42%.

Analyst Ratings Changes

EQIX has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Barclays boosted their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Scotiabank boosted their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Wells Fargo & Company cut their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, BMO Capital Markets lowered their target price 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, February 13th. Three equities 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. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $989.35.

Insider Activity at Equinix

In other Equinix news, insider Kurt Pletcher sold 341 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the sale, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,054 shares of company stock worth $17,466,950. Company insiders own 0.27% of the company’s stock.

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.