DoubleLine ETF Adviser LP Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

DoubleLine ETF Adviser LP bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,629 shares of the financial services provider’s stock, valued at approximately $3,338,000. Equinix comprises about 1.4% of DoubleLine ETF Adviser LP’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQIX. Tanglewood Legacy Advisors LLC acquired a new stake in shares of Equinix in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC acquired a new stake in shares of Equinix in the 1st quarter worth approximately $28,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Equinix by 112.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 51 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 27 shares during the period. Quarry LP lifted its stake in shares of Equinix by 237.5% in the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 38 shares during the period. Finally, Heritage Wealth Management LLC lifted its stake in shares of Equinix by 100.0% in the 4th quarter. Heritage Wealth Management LLC now owns 62 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 31 shares during the period. Institutional investors own 93.16% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock traded up $3.17 during mid-day trading on Monday, reaching $774.61. The company’s stock had a trading volume of 129,317 shares, compared to its average volume of 405,378. Equinix, Inc. has a 1-year low of $494.89 and a 1-year high of $821.63. The company has a market cap of $72.48 billion, a P/E ratio of 88.98, a PEG ratio of 1.87 and a beta of 0.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.02 and a current ratio of 2.02. The firm’s 50-day moving average is $782.57 and its two-hundred day moving average is $741.86.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be given a dividend of $3.41 per share. This represents a $13.64 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, August 22nd. Equinix’s dividend payout ratio (DPR) is currently 157.32%.

Insider Buying and Selling

In other news, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $758.00, for a total value of $758,000.00. Following the transaction, the chief financial officer now owns 22,177 shares of the company’s stock, valued at approximately $16,810,166. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Simon Miller sold 523 shares of Equinix stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $766.77, for a total transaction of $401,020.71. Following the transaction, the chief accounting officer now owns 4,262 shares of the company’s stock, valued at approximately $3,267,973.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $758.00, for a total transaction of $758,000.00. Following the transaction, the chief financial officer now directly owns 22,177 shares in the company, valued at approximately $16,810,166. The disclosure for this sale can be found here. Insiders sold 11,584 shares of company stock worth $8,952,535 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Equinix from $835.00 to $870.00 in a research note on Thursday, June 22nd. Raymond James increased their target price on shares of Equinix from $885.00 to $910.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 3rd. JPMorgan Chase & Co. increased their target price on shares of Equinix from $825.00 to $900.00 in a research note on Friday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Equinix from $780.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, Wells Fargo & Company lowered shares of Equinix from an “overweight” rating to an “equal weight” rating and set a $810.00 price target on the stock. in a report on Friday, July 21st. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $814.57.

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.