Rheos Capital Works Inc. Has $22.45 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Rheos Capital Works Inc. grew its holdings in Equinix, Inc. (NASDAQ:EQIXFree Report) by 22.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,200 shares of the financial services provider’s stock after purchasing an additional 5,000 shares during the quarter. Equinix comprises about 1.1% of Rheos Capital Works Inc.’s portfolio, making the stock its 25th biggest position. Rheos Capital Works Inc.’s holdings in Equinix were worth $22,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. boosted its position in shares of Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 26 shares in the last quarter. Providence Capital Advisors LLC acquired a new stake in Equinix in the third quarter valued at approximately $29,000. Criterion Capital Advisors LLC bought a new stake in shares of Equinix during the fourth quarter valued at approximately $32,000. Rise Advisors LLC acquired a new position in shares of Equinix during the first quarter worth approximately $39,000. Finally, Operose Advisors LLC acquired a new position in shares of Equinix during the third quarter worth approximately $36,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on EQIX. Oppenheimer boosted their price target on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Royal Bank of Canada lowered their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Truist Financial lifted their price target on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley lowered their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Finally, HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $871.00.

View Our Latest Stock Analysis on EQIX

Equinix Stock Performance

Shares of NASDAQ:EQIX traded up $1.40 during mid-day trading on Friday, reaching $765.00. The company had a trading volume of 985,003 shares, compared to its average volume of 389,663. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average price is $755.11 and its 200-day moving average price is $802.06. The firm has a market cap of $72.61 billion, a price-to-earnings ratio of 76.73, a PEG ratio of 2.66 and a beta of 0.68.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.23%. Equinix’s payout ratio is presently 170.91%.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

About Equinix

(Free Report)

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.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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