Taylor Frigon Capital Management LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,512 shares of the financial services provider’s stock after selling 24 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Equinix were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Belpointe Asset Management LLC raised its position in shares of Equinix by 17.5% during the third quarter. Belpointe Asset Management LLC now owns 673 shares of the financial services provider’s stock valued at $382,000 after buying an additional 100 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Equinix by 74.7% in the third quarter. Two Sigma Advisers LP now owns 29,000 shares of the financial services provider’s stock valued at $16,496,000 after purchasing an additional 12,400 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Equinix by 342.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 45,351 shares of the financial services provider’s stock valued at $29,797,000 after purchasing an additional 35,100 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Equinix by 1.5% in the third quarter. First Republic Investment Management Inc. now owns 76,254 shares of the financial services provider’s stock valued at $43,376,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in shares of Equinix by 103.0% in the second quarter. Mather Group LLC. now owns 1,007 shares of the financial services provider’s stock valued at $661,000 after purchasing an additional 511 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on EQIX. Cowen raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 target price for the company in a report on Tuesday, December 13th. Morgan Stanley cut their target price on shares of Equinix from $704.00 to $702.00 and set an “equal weight” rating for the company in a report on Wednesday, February 15th. Cowen raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 target price for the company in a report on Tuesday, December 13th. BNP Paribas assumed coverage on shares of Equinix in a research note on Wednesday, December 14th. They set an “outperform” rating and a $886.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on shares of Equinix from $740.00 to $755.00 and gave the stock a “market perform” rating in a research note on Thursday, February 16th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $779.28.
Insider Activity at Equinix
Equinix Stock Down 1.7 %
Equinix stock traded down $11.73 during midday trading on Friday, hitting $690.85. 841,357 shares of the company’s stock were exchanged, compared to its average volume of 390,754. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market cap of $64.10 billion, a PE ratio of 89.95, a P/E/G ratio of 2.33 and a beta of 0.61. The firm has a 50-day moving average of $710.66 and a two-hundred day moving average of $652.87. Equinix, Inc. has a 12 month low of $494.89 and a 12 month high of $776.35.
Equinix (NASDAQ:EQIX – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.90 by ($4.51). The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Equinix had a net margin of 9.70% and a return on equity of 6.37%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.22 earnings per share. As a group, analysts expect that Equinix, Inc. will post 27.53 earnings per share for the current fiscal year.
Equinix Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th will be given a $3.41 dividend. This represents a $13.64 annualized dividend and a dividend yield of 1.97%. This is a positive change from Equinix’s previous quarterly dividend of $3.10. The ex-dividend date is Monday, March 6th. Equinix’s payout ratio is presently 177.60%.
Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
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