Ethic Inc. Acquires 302 Shares of Equinix, Inc. (NASDAQ:EQIX)

Ethic Inc. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,745 shares of the financial services provider’s stock after acquiring an additional 302 shares during the quarter. Ethic Inc.’s holdings in Equinix were worth $8,245,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Oppenheimer & Co. Inc. raised its stake in shares of 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 purchasing an additional 3,212 shares during the period. Bank of New York Mellon Corp increased its holdings in 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 buying an additional 2,560 shares during the last quarter. National Pension Service raised its position in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after acquiring an additional 3,164 shares during the period. Empowered Funds LLC boosted its stake in Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after acquiring an additional 404 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its position in shares of Equinix by 43.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 12,575 shares of the financial services provider’s stock valued at $11,856,000 after acquiring an additional 3,839 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Equinix

In related news, insider Kurt Pletcher sold 215 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the sale, the insider now directly owns 1,245 shares in the company, valued at $1,157,513.85. This represents a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,167 shares of company stock worth $6,658,536 over the last three months. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EQIX shares. Wells Fargo & Company dropped their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target on the stock in a research report on Thursday, March 27th. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, May 1st. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Finally, Stifel Nicolaus lifted their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have issued a strong buy rating to the company. According to MarketBeat.com, Equinix currently has a consensus rating of “Buy” and a consensus target price of $1,005.11.

Equinix Stock Up 0.4 %

EQIX opened at $864.39 on Friday. The business’s fifty day simple moving average is $825.01 and its 200 day simple moving average is $894.09. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. 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 has a market cap of $84.55 billion, a PE ratio of 101.10, a P/E/G ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating 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 company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the firm posted $8.86 EPS. Equinix’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Wednesday, May 21st. Equinix’s payout ratio is presently 195.01%.

About Equinix

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.