Phocas Financial Corp. Acquires 68 Shares of Equinix, Inc. (NASDAQ:EQIX)

Phocas Financial Corp. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,061 shares of the financial services provider’s stock after purchasing an additional 68 shares during the period. Phocas Financial Corp.’s holdings in Equinix were worth $2,660,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in EQIX. CoreCap Advisors LLC bought a new position in shares of Equinix during the 2nd quarter worth approximately $25,000. Guardian Wealth Advisors LLC bought a new position in Equinix during the third quarter worth $32,000. JDM Financial Group LLC acquired a new stake in Equinix in the fourth quarter worth $43,000. Castleview Partners LLC increased its stake in Equinix by 63,515.9% in the second quarter. Castleview Partners LLC now owns 40,078 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 40,015 shares in the last quarter. Finally, Advanced Research Investment Solutions LLC acquired a new position in shares of Equinix during the third quarter valued at about $67,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on EQIX shares. TheStreet upgraded Equinix from a “c+” rating to a “b-” rating in a research note on Tuesday, December 13th. Credit Suisse Group reduced their price objective on Equinix from $762.00 to $753.00 and set a “neutral” rating for the company in a research note on Thursday, February 16th. Cowen raised Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 target price on the stock in a research report on Tuesday, December 13th. Cowen raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 price target for the company in a research report on Tuesday, December 13th. Finally, Exane BNP Paribas initiated coverage on shares of Equinix in a report on Wednesday, December 14th. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $779.28.

Equinix Stock Performance

EQIX stock traded down $11.73 during midday trading on Friday, hitting $690.85. The company’s stock had a trading volume of 841,357 shares, compared to its average volume of 392,563. The stock has a market cap of $64.10 billion, a price-to-earnings ratio of 89.95, a PEG ratio of 2.29 and a beta of 0.61. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is $710.66 and its 200 day moving average price is $652.89. Equinix, Inc. has a 1 year low of $494.89 and a 1 year high of $776.35.

Equinix (NASDAQ:EQIX – Get Rating) last released its earnings results on Wednesday, February 15th. The financial services provider reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $5.90 by ($4.51). The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. Equinix had a return on equity of 6.37% and a net margin of 9.70%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.22 earnings per share. On average, equities analysts forecast that Equinix, Inc. will post 27.53 EPS for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Tuesday, March 7th will be given a dividend of $3.41 per share. This is an increase from Equinix’s previous quarterly dividend of $3.10. This represents a $13.64 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, March 6th. Equinix’s dividend payout ratio is currently 177.60%.

Insider Transactions at Equinix

In related news, Chairman Camp Peter Van sold 462 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $708.61, for a total value of $327,377.82. Following the transaction, the chairman now owns 7,416 shares in the company, valued at $5,255,051.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Equinix news, Chairman Camp Peter Van sold 462 shares of the business’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $708.61, for a total value of $327,377.82. Following the sale, the chairman now directly owns 7,416 shares in the company, valued at $5,255,051.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles J. Meyers sold 7,378 shares of the stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $706.45, for a total value of $5,212,188.10. Following the transaction, the chief executive officer now owns 16,599 shares of the company’s stock, valued at approximately $11,726,363.55. The disclosure for this sale can be found here. Insiders sold a total of 20,971 shares of company stock worth $14,666,488 in the last quarter. Insiders own 0.32% of the company’s stock.

About Equinix

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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.