Boston Research & Management Inc. Invests $2.66 Million in Equinix, Inc. $EQIX

Boston Research & Management Inc. acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,402 shares of the financial services provider’s stock, valued at approximately $2,664,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC boosted its position in shares of Equinix by 4.2% during the 3rd quarter. Quent Capital LLC now owns 298 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 12 shares during the last quarter. Flputnam Investment Management Co. increased its position in shares of Equinix by 1.0% in the third quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 13 shares during the last quarter. Paragon Private Wealth Management LLC raised its stake in Equinix by 2.7% in the third quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 13 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in Equinix by 40.6% during the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 13 shares during the last quarter. Finally, AE Wealth Management LLC grew its stake in Equinix by 5.6% in the 2nd quarter. AE Wealth Management LLC now owns 262 shares of the financial services provider’s stock worth $208,000 after buying an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,670 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.08, for a total transaction of $2,146,893.60. Following the completion of the transaction, the chief executive officer directly owned 14,857 shares of the company’s stock, valued at approximately $11,946,216.56. This represents a 15.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Lin sold 888 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $711,980.64. Following the sale, the insider owned 9,390 shares of the company’s stock, valued at approximately $7,528,714.20. This represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,353 shares of company stock worth $11,283,043 over the last ninety days. Insiders own 0.27% of the company’s stock.

Equinix Stock Up 2.8%

EQIX opened at $974.26 on Friday. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The business’s 50-day moving average price is $832.07 and its 200-day moving average price is $800.99. The company has a market cap of $95.72 billion, a P/E ratio of 70.86, a P/E/G ratio of 2.44 and a beta of 1.06.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the business earned $7.92 earnings per share. Equinix’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 2.1%. Equinix’s payout ratio is presently 150.11%.

Analyst Ratings Changes

Several research firms have recently weighed in on EQIX. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on shares of Equinix in a research report on Tuesday, January 6th. JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Wells Fargo & Company lifted their price target on Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. UBS Group increased their price objective on Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Stifel Nicolaus set a $1,075.00 target price on Equinix in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,001.41.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.