Gradient Investments LLC acquired a new position in Equinix Inc (NASDAQ:EQIX) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,093 shares of the financial services provider’s stock, valued at approximately $8,199,000.
A number of other hedge funds have also modified their holdings of the stock. Washington Trust Bank purchased a new stake in shares of Equinix during the first quarter worth $29,000. Farmers & Merchants Investments Inc. increased its position in Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock worth $30,000 after buying an additional 54 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of Equinix in the fourth quarter valued at about $35,000. Rehmann Capital Advisory Group grew its position in shares of Equinix by 158.8% in the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 54 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Equinix by 116.7% in the fourth quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 63 shares during the last quarter. 98.47% of the stock is owned by institutional investors and hedge funds.
Shares of EQIX stock opened at $476.99 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $36.77 billion, a PE ratio of 23.05, a PEG ratio of 1.60 and a beta of 0.89. Equinix Inc has a 52-week low of $335.29 and a 52-week high of $479.94.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a $2.46 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $9.84 dividend on an annualized basis and a yield of 2.06%. Equinix’s dividend payout ratio (DPR) is currently 47.56%.
Several equities research analysts have recently issued reports on EQIX shares. Nomura raised their price target on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, March 29th. BidaskClub raised Equinix from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Citigroup raised their price target on shares of Equinix from $481.00 to $482.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Berenberg Bank began coverage on shares of Equinix in a research note on Tuesday, January 8th. They set a “buy” rating and a $477.00 price target for the company. Finally, UBS Group boosted their price objective on shares of Equinix from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $500.38.
In other Equinix news, insider Karl Strohmeyer sold 1,135 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $426.96, for a total transaction of $484,599.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles J. Meyers sold 282 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $462.31, for a total transaction of $130,371.42. Following the transaction, the chief executive officer now owns 5,882 shares in the company, valued at approximately $2,719,307.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,143 shares of company stock worth $7,776,844. 0.49% of the stock is owned by company insiders.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
Further Reading: Certificate of Deposit (CD)
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