Equinix, Inc. (NASDAQ:EQIX) Stake Raised by Vert Asset Management LLC

Vert Asset Management LLC increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 20,262 shares of the financial services provider’s stock after purchasing an additional 1,016 shares during the period. Equinix accounts for about 7.0% of Vert Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Vert Asset Management LLC’s holdings in Equinix were worth $16,723,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. boosted its holdings in shares of Equinix by 7,355.6% in the 1st quarter. Sunbelt Securities Inc. now owns 671 shares of the financial services provider’s stock valued at $553,000 after buying an additional 662 shares in the last quarter. Richelieu Gestion SA boosted its stake in Equinix by 700.0% during the 1st quarter. Richelieu Gestion SA now owns 200 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 175 shares during the period. Riverview Trust Co acquired a new stake in Equinix during the 1st quarter worth $163,000. Strong Tower Advisory Services boosted its stake in Equinix by 7.6% during the 1st quarter. Strong Tower Advisory Services now owns 568 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 40 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in Equinix during the 1st quarter worth $15,187,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Up 1.4 %

Shares of Equinix stock traded up $10.26 during mid-day trading on Thursday, hitting $752.13. 41,290 shares of the stock were exchanged, compared to its average volume of 593,872. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock has a market capitalization of $71.38 billion, a price-to-earnings ratio of 74.41, a price-to-earnings-growth ratio of 2.59 and a beta of 0.68. The company has a 50-day simple moving average of $755.29 and a 200 day simple moving average of $801.24. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $4.26 per share. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.27%. Equinix’s dividend payout ratio is currently 170.91%.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EQIX. Royal Bank of Canada decreased their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Morgan Stanley reduced their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Truist Financial increased their price target on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Barclays increased their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $872.50.

About Equinix

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.