Girard Partners LTD. Raises Position in Equinix, Inc. (NASDAQ:EQIX)

Girard Partners LTD. raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 7.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,322 shares of the financial services provider’s stock after buying an additional 300 shares during the period. Girard Partners LTD.’s holdings in Equinix were worth $3,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC boosted its position in Equinix by 9.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,131 shares of the financial services provider’s stock valued at $2,258,000 after buying an additional 272 shares during the period. CIBC Asset Management Inc lifted its position in shares of Equinix by 3.7% during the 1st quarter. CIBC Asset Management Inc now owns 13,535 shares of the financial services provider’s stock worth $9,759,000 after purchasing an additional 484 shares during the last quarter. Independent Advisor Alliance acquired a new position in shares of Equinix during the first quarter worth $390,000. Norinchukin Bank The grew its stake in shares of Equinix by 13.4% during the first quarter. Norinchukin Bank The now owns 8,788 shares of the financial services provider’s stock worth $6,336,000 after purchasing an additional 1,041 shares in the last quarter. Finally, AXS Investments LLC acquired a new position in shares of Equinix during the first quarter worth $1,278,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX traded down $3.86 during trading hours on Monday, hitting $777.52. 234,800 shares of the stock were exchanged, compared to its average volume of 408,180. The company has a market cap of $72.75 billion, a price-to-earnings ratio of 89.68, a price-to-earnings-growth ratio of 1.88 and a beta of 0.65. Equinix, Inc. has a 12-month low of $494.89 and a 12-month high of $821.63. The stock has a 50-day moving average of $782.46 and a 200 day moving average of $739.72. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.29.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be issued a dividend of $3.41 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $13.64 annualized dividend and a yield of 1.75%. Equinix’s dividend payout ratio is currently 157.32%.

Insider Buying and Selling

In related news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $790.41, for a total transaction of $1,580,820.00. Following the completion of the transaction, the chief financial officer now directly owns 20,177 shares of the company’s stock, valued at $15,948,102.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $790.41, for a total transaction of $1,580,820.00. Following the completion of the transaction, the chief financial officer now directly owns 20,177 shares of the company’s stock, valued at $15,948,102.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 4,835 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $748.64, for a total transaction of $3,619,674.40. Following the transaction, the insider now directly owns 15,608 shares of the company’s stock, valued at $11,684,773.12. The disclosure for this sale can be found here. Insiders sold 16,714 shares of company stock valued at $12,785,076 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of a number of analyst reports. Bank of America boosted their target price on shares of Equinix from $750.00 to $850.00 in a research note on Friday, June 23rd. Stifel Nicolaus boosted their target price on shares of Equinix from $835.00 to $870.00 in a research note on Thursday, June 22nd. BMO Capital Markets boosted their target price on shares of Equinix from $800.00 to $870.00 in a research note on Friday, June 16th. Raymond James boosted their target price on shares of Equinix from $885.00 to $910.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 3rd. Finally, Oppenheimer downgraded shares of Equinix from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 22nd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $811.19.

Equinix Company 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.