Azzad Asset Management Inc. ADV Has $3.24 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Azzad Asset Management Inc. ADV increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,923 shares of the financial services provider’s stock after buying an additional 404 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Equinix were worth $3,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EQIX. Valley National Advisers Inc. raised its stake in shares of Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Equinix during the fourth quarter worth approximately $32,000. Rise Advisors LLC bought a new stake in shares of Equinix during the first quarter worth approximately $39,000. Anchor Investment Management LLC bought a new stake in shares of Equinix during the fourth quarter worth approximately $49,000. Finally, CVA Family Office LLC bought a new stake in shares of Equinix during the fourth quarter worth approximately $60,000. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several recent analyst reports. Oppenheimer upped their target price on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial upped their target price on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley lowered 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. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $960.00 price objective on shares of Equinix in a research report on Wednesday, March 13th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $872.33.

Equinix Stock Performance

EQIX stock traded down $5.66 during trading hours on Wednesday, reaching $750.72. The stock had a trading volume of 118,233 shares, compared to its average volume of 593,603. The stock has a market capitalization of $71.25 billion, a PE ratio of 75.48, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50-day simple moving average of $755.84 and a 200 day simple moving average of $799.46. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

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 $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, May 21st. Equinix’s dividend payout ratio is currently 170.91%.

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.