PFG Advisors Acquires 94 Shares of Equinix, Inc. (NASDAQ:EQIX)

PFG Advisors boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,458 shares of the financial services provider’s stock after acquiring an additional 94 shares during the quarter. PFG Advisors’ holdings in Equinix were worth $1,103,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of EQIX. CNB Bank grew its stake in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the second quarter worth approximately $30,000. LRI Investments LLC purchased a new position in Equinix during the 1st quarter worth $31,000. Rise Advisors LLC bought a new stake in Equinix during the 1st quarter valued at $39,000. Finally, UMB Bank n.a. lifted its holdings in shares of Equinix by 30.0% in the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock worth $54,000 after buying an additional 15 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Equinix Stock Up 0.3 %

Shares of EQIX stock opened at $871.54 on Friday. The stock’s fifty day moving average price is $811.47 and its 200 day moving average price is $794.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a market cap of $82.74 billion, a price-to-earnings ratio of 87.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.04 EPS. On average, research analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.96%. Equinix’s payout ratio is currently 170.91%.

Analysts Set New Price Targets

EQIX has been the topic of several research reports. Mizuho raised their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank of Canada cut their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. The Goldman Sachs Group started coverage on shares of Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, TD Cowen upped their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $883.71.

Equinix Profile

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.