Parallel Advisors LLC Acquires 115 Shares of Equinix, Inc. (NASDAQ:EQIX)

Parallel Advisors LLC grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 16.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 825 shares of the financial services provider’s stock after purchasing an additional 115 shares during the period. Parallel Advisors LLC’s holdings in Equinix were worth $778,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new position in Equinix during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in Equinix in the 4th quarter worth approximately $39,000. Sierra Ocean LLC purchased a new position in Equinix in the 4th quarter worth approximately $42,000. Dunhill Financial LLC grew its stake in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. purchased a new position in Equinix in the 4th quarter worth approximately $47,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.7 %

Shares of Equinix stock opened at $855.33 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company has a 50-day moving average of $906.85 and a 200 day moving average of $908.67. The firm has a market cap of $83.25 billion, a price-to-earnings ratio of 100.04, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.19%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio is 219.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EQIX shares. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Truist Financial cut their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Wells Fargo & Company cut their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Equinix has an average rating of “Buy” and a consensus price target of $989.35.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now directly owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by insiders.

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.