Millstone Evans Group LLC Invests $120,000 in Equinix, Inc. (NASDAQ:EQIX)

Millstone Evans Group LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 127 shares of the financial services provider’s stock, valued at approximately $120,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in Equinix during the third quarter worth approximately $224,000. PNC Financial Services Group Inc. raised its holdings in Equinix by 4.2% during the third quarter. PNC Financial Services Group Inc. now owns 13,168 shares of the financial services provider’s stock worth $11,688,000 after purchasing an additional 531 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Equinix by 19.8% during the third quarter. Advisors Asset Management Inc. now owns 4,691 shares of the financial services provider’s stock worth $4,164,000 after purchasing an additional 774 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Equinix by 76.5% during the third quarter. First Horizon Advisors Inc. now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 39 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Scotiabank boosted their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Truist Financial dropped their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Wells Fargo & Company dropped their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $990.06.

Insiders Place Their Bets

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 over the last three months. 0.27% of the stock is currently owned by insiders.

Equinix Trading Down 2.0 %

NASDAQ EQIX opened at $834.59 on Friday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $81.23 billion, a PE ratio of 97.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The firm’s fifty day simple moving average is $903.56 and its 200-day simple moving average is $908.81.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders 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 2.25%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

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.