Prudent Man Advisors LLC Purchases 667 Shares of Equinix, Inc. (NASDAQ:EQIX)

Prudent Man Advisors LLC increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 43.8% during the 4th quarter, HoldingsChannel reports. The firm owned 2,189 shares of the financial services provider’s stock after buying an additional 667 shares during the period. Equinix accounts for approximately 0.8% of Prudent Man Advisors LLC’s portfolio, making the stock its 20th largest position. Prudent Man Advisors LLC’s holdings in Equinix were worth $2,064,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Equinix by 302.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after buying an additional 813,666 shares during the last quarter. Adelante Capital Management LLC lifted its position in Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after acquiring an additional 344,114 shares during the period. Proficio Capital Partners LLC acquired a new stake in Equinix during the 4th quarter worth about $246,000. JPMorgan Chase & Co. lifted its position in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after acquiring an additional 203,656 shares during the period. Finally, abrdn plc lifted its position in Equinix by 49.2% during the 4th quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock worth $437,563,000 after acquiring an additional 153,215 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,741 shares of company stock worth $21,988,532 in the last ninety days. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $904.62 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $88.05 billion, a P/E ratio of 105.80, a P/E/G ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The business’s 50-day moving average price is $928.20 and its 200 day moving average price is $904.71.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

Analysts Set New Price Targets

EQIX has been the subject of a number of research reports. BMO Capital Markets lowered their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Truist Financial boosted their price objective on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $994.82.

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.