HighPoint Advisor Group LLC Increases Position in Equinix, Inc. (NASDAQ:EQIX)

HighPoint Advisor Group LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 606 shares of the financial services provider’s stock after purchasing an additional 55 shares during the period. HighPoint Advisor Group LLC’s holdings in Equinix were worth $572,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EQIX. Oppenheimer & Co. Inc. boosted its stake in Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after buying an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after purchasing an additional 2,560 shares during the period. National Pension Service increased its position in Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after purchasing an additional 3,164 shares during the last quarter. Brookfield Corp ON raised its stake in Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Trading Up 1.8 %

Shares of EQIX stock opened at $831.55 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average is $889.74 and its two-hundred day moving average is $907.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a market capitalization of $80.94 billion, a P/E ratio of 97.26, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.26%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 219.42%.

Wall Street Analyst Weigh In

EQIX has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Oppenheimer upped their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Mizuho cut their price objective on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Scotiabank boosted their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $1,007.59.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 341 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the sale, the insider now owns 1,430 shares of the company’s stock, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at $20,085,186.32. The trade was a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,054 shares of company stock worth $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Equinix Company 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.