Lake Street Advisors Group LLC Acquires 12 Shares of Equinix, Inc. (NASDAQ:EQIX)

Lake Street Advisors Group LLC grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 756 shares of the financial services provider’s stock after purchasing an additional 12 shares during the period. Lake Street Advisors Group LLC’s holdings in Equinix were worth $713,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Equinix by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after acquiring an additional 2,560 shares during the period. BankPlus Trust Department bought a new stake in shares of Equinix during the 4th quarter valued at $580,000. Rothschild Investment LLC lifted its holdings in Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 11 shares in the last quarter. Holistic Financial Partners boosted its stake in Equinix by 24.4% in the 4th quarter. Holistic Financial Partners now owns 291 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 57 shares during the period. Finally, IFP Advisors Inc grew its holdings in Equinix by 434.1% during the 4th quarter. IFP Advisors Inc now owns 486 shares of the financial services provider’s stock valued at $459,000 after buying an additional 395 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EQIX shares. TD Cowen increased their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. BMO Capital Markets decreased their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus upped their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and an average price target of $994.82.

Equinix Price Performance

Shares of EQIX opened at $910.03 on Thursday. The firm’s 50-day simple moving average is $928.88 and its two-hundred day simple moving average is $904.07. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock has a market cap of $88.58 billion, a PE ratio of 106.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insider Buying and Selling

In related news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,741 shares of company stock worth $21,988,532 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Equinix 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.