Steel Grove Capital Advisors LLC Purchases 134 Shares of Equinix, Inc. (NASDAQ:EQIX)

Steel Grove Capital Advisors LLC grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 47.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 414 shares of the financial services provider’s stock after acquiring an additional 134 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Equinix were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EQIX. CVA Family Office LLC purchased a new stake in Equinix in the 4th quarter valued at about $60,000. Procyon Advisors LLC boosted its position in Equinix by 12.3% in the fourth quarter. Procyon Advisors LLC now owns 568 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 62 shares during the last quarter. Ritholtz Wealth Management grew its stake in Equinix by 13.9% in the 4th quarter. Ritholtz Wealth Management now owns 589 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 72 shares during the period. Meadow Creek Wealth Advisors LLC purchased a new stake in shares of Equinix during the 4th quarter valued at $406,000. Finally, Blue Trust Inc. raised its stake in shares of Equinix by 76.7% during the 4th quarter. Blue Trust Inc. now owns 152 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 66 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EQIX shares. Mizuho started coverage on shares of Equinix in a research note on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price on the stock. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price target on the stock. Barclays lifted their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Finally, Royal Bank of Canada dropped their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $875.50.

Equinix Price Performance

Equinix stock traded up $3.12 during mid-day trading on Friday, hitting $772.43. 541,016 shares of the company traded hands, compared to its average volume of 366,784. The stock has a fifty day moving average price of $770.49 and a 200-day moving average price of $797.06. The stock has a market cap of $73.31 billion, a price-to-earnings ratio of 77.48, a price-to-earnings-growth ratio of 2.67 and a beta of 0.68. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 annualized dividend and a yield of 2.21%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company’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 directly owns 17,641 shares in the company, valued at $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Equinix 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 value of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

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.