Legacy Financial Advisors Inc. Acquires 24 Shares of Equinix, Inc. (NASDAQ:EQIX)

Legacy Financial Advisors Inc. raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 7.6% in the second quarter, Holdings Channel.com reports. The fund owned 341 shares of the financial services provider’s stock after acquiring an additional 24 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Equinix were worth $258,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EQIX. Vanguard Group Inc. lifted its stake in shares of Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after buying an additional 13,988 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after buying an additional 238,883 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Equinix by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after buying an additional 47,795 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after acquiring an additional 19,844 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

NASDAQ:EQIX opened at $877.20 on Friday. The stock has a market capitalization of $83.25 billion, a P/E ratio of 87.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The firm has a 50 day moving average of $820.42 and a 200-day moving average of $792.56.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.04 EPS. As a group, sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Analyst Ratings Changes

Several brokerages have recently issued reports on EQIX. Royal Bank of Canada lowered their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. TD Cowen raised their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group started coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 target price on the stock. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Profile

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.