Farther Finance Advisors LLC Acquires 40 Shares of Equinix, Inc. (NASDAQ:EQIX)

Farther Finance Advisors LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.5% in the first quarter, HoldingsChannel reports. The firm owned 767 shares of the financial services provider’s stock after acquiring an additional 40 shares during the period. Farther Finance Advisors LLC’s holdings in Equinix were worth $626,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its stake in Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after acquiring an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after purchasing an additional 2,560 shares in the last quarter. National Pension Service boosted its position in shares of Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after purchasing an additional 3,164 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Equinix by 20.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider’s stock valued at $93,807,000 after buying an additional 17,084 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 0.4%

NASDAQ:EQIX opened at $892.64 on Friday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The firm has a market capitalization of $87.32 billion, a price-to-earnings ratio of 104.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. 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 stock’s 50 day moving average price is $851.86 and its two-hundred day moving average price is $888.43.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $8.86 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio is 195.01%.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer now directly owns 9,615 shares of the company’s stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock worth $2,808,008 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EQIX. New Street Research upgraded Equinix to a “strong-buy” rating in a report on Monday, April 28th. TD Securities boosted their price objective on Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. BNP Paribas raised Equinix to a “strong-buy” rating in a research note on Thursday, May 1st. Cfra Research raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Finally, Bank of America initiated coverage on shares of Equinix in a research report on Monday, May 19th. They set a “buy” rating and a $1,000.00 price objective for the company. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six 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 price target of $1,004.80.

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.