Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,879 shares of the financial services provider’s stock after purchasing an additional 466 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Equinix were worth $4,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after purchasing an additional 813,666 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Equinix during the fourth quarter worth about $328,899,000. Adelante Capital Management LLC lifted its holdings in shares of Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Equinix in the fourth quarter valued at approximately $246,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

EQIX opened at $841.22 on Wednesday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $81.88 billion, a P/E ratio of 98.39, a PEG ratio of 1.78 and a beta of 0.74. The stock has a fifty day moving average of $901.48 and a 200-day moving average of $909.76.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 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%. Equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal 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 paid a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.23%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 219.42%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EQIX shares. JMP Securities restated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Barclays boosted their price objective on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Finally, Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $990.06.

Insider Activity

In related news, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.