Ninepoint Partners LP Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Ninepoint Partners LP grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 37.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,006 shares of the financial services provider’s stock after acquiring an additional 543 shares during the period. Equinix comprises approximately 0.1% of Ninepoint Partners LP’s investment portfolio, making the stock its 29th biggest holding. Ninepoint Partners LP’s holdings in Equinix were worth $1,518,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Cypress Capital Group grew its holdings in Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 13 shares in the last quarter. MRA Advisory Group boosted its stake in shares of Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Equinix by 3.0% during the first quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock valued at $402,000 after buying an additional 14 shares during the period. Banco Santander S.A. raised its stake in Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after buying an additional 14 shares in the last quarter. Finally, Abbrea Capital LLC lifted its holdings in Equinix by 5.5% during the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $882.69 on Friday. The stock has a 50-day moving average of $826.88 and a two-hundred day moving average of $792.72. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $83.77 billion, a P/E ratio of 88.53, a P/E/G ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $8.04 EPS. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.93%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michael Earl Campbell sold 600 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $816.73, for a total value of $490,038.00. Following the completion of the transaction, the insider now directly owns 14,800 shares in the company, valued at approximately $12,087,604. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 over the last three months. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EQIX shares. The Goldman Sachs Group lifted their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday. Mizuho boosted their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $891.57.

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.