Promus Capital LLC Acquires Shares of 78 Equinix, Inc. (NASDAQ:EQIX)

Promus Capital LLC acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 78 shares of the financial services provider’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 valued at $960,820,000 after purchasing an additional 813,666 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in shares of Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Equinix during the 4th quarter valued at about $246,000. JPMorgan Chase & Co. boosted its holdings in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Finally, abrdn plc lifted its holdings in shares of Equinix by 49.2% in the 4th quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock valued at $437,563,000 after acquiring an additional 153,215 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on EQIX. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Oppenheimer increased their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets lowered their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada increased their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Scotiabank raised their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $995.24.

Insider Activity at Equinix

In other Equinix news, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the completion of the sale, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. This trade represents a 19.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 over the last ninety days. 0.27% of the stock is owned by company insiders.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $921.02 on Thursday. The firm has a market cap of $89.64 billion, a PE ratio of 107.72, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The firm’s 50 day simple moving average is $926.24 and its 200-day simple moving average is $906.92. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.04%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

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.