Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 90.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,006 shares of the financial services provider’s stock after purchasing an additional 954 shares during the period. Red Cedar Investment Management LLC’s holdings in Equinix were worth $1,616,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in shares of Equinix by 9.1% in the third quarter. Commonwealth Equity Services LLC now owns 4,999 shares of the financial services provider’s stock valued at $3,631,000 after buying an additional 415 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Equinix by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,129 shares of the financial services provider’s stock worth $2,999,000 after purchasing an additional 201 shares during the period. FinTrust Capital Advisors LLC increased its holdings in shares of Equinix by 300.0% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 64 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 48 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Equinix by 3.6% in the third quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the financial services provider’s stock valued at $2,732,000 after purchasing an additional 132 shares during the period. Finally, NorthRock Partners LLC lifted its stake in shares of Equinix by 23.3% in the third quarter. NorthRock Partners LLC now owns 407 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Up 0.2 %

EQIX traded up $1.48 during trading on Friday, hitting $700.18. The company’s stock had a trading volume of 762,548 shares, compared to its average volume of 698,429. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The firm’s 50 day moving average price is $807.36 and its 200-day moving average price is $801.23. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $66.25 billion, a PE ratio of 67.91, a PEG ratio of 1.81 and a beta of 0.62.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.43%. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the transaction, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Keith D. Taylor sold 1,164 shares of Equinix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the transaction, the chief financial officer now owns 23,187 shares in the company, valued at $19,314,307.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,585 shares of company stock valued at $3,818,268. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a report on Wednesday, March 20th. Barclays lowered their target price on Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Finally, Morgan Stanley lowered their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $868.06.

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.