Alta Advisers Ltd Increases Holdings in Equinix, Inc. (NASDAQ:EQIX)

Alta Advisers Ltd boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 318 shares of the financial services provider’s stock after purchasing an additional 18 shares during the period. Alta Advisers Ltd’s holdings in Equinix were worth $300,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in shares of Equinix during the fourth quarter worth $31,000. J.Safra Asset Management Corp bought a new position in Equinix during the fourth quarter valued at about $39,000. Sierra Ocean LLC acquired a new stake in Equinix during the fourth quarter valued at approximately $42,000. Thompson Investment Management Inc. purchased a new position in Equinix in the 4th quarter worth about $47,000. Finally, Key Financial Inc lifted its position in shares of Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now owns 1,245 shares of the company’s stock, valued at approximately $1,157,513.85. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,040 shares of company stock valued at $6,547,068 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Equinix Price Performance

NASDAQ EQIX opened at $773.20 on Tuesday. The business’s fifty day moving average is $844.53 and its 200 day moving average is $896.95. The company has a market capitalization of $75.63 billion, a PE ratio of 90.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.43%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Analysts Set New Price Targets

EQIX has been the subject of a number of analyst reports. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup dropped their price objective on shares of Equinix from $1,020.00 to $970.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price for the company in a report on Thursday, March 27th. Truist Financial lowered their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Oppenheimer upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Equinix presently has a consensus rating of “Buy” and a consensus price target of $1,005.50.

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.