Equinix, Inc. $EQIX Shares Acquired by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 24.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,100 shares of the financial services provider’s stock after purchasing an additional 600 shares during the period. Inspire Trust Co. N.A.’s holdings in Equinix were worth $2,428,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Quent Capital LLC raised its holdings in Equinix by 4.2% in the third 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 in the last quarter. CVA Family Office LLC increased its position in shares of Equinix by 10.9% in the 2nd quarter. CVA Family Office LLC now owns 132 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 13 shares during the last quarter. Flputnam Investment Management Co. raised its holdings in shares of Equinix by 1.0% in the 3rd quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock valued at $1,014,000 after purchasing an additional 13 shares in the last quarter. Paragon Private Wealth Management LLC lifted its position in shares of Equinix by 2.7% during the 3rd quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 13 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 13 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jonathan Lin sold 888 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $711,980.64. Following the completion of the sale, the insider owned 9,390 shares in the company, valued at approximately $7,528,714.20. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurt Pletcher sold 596 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $477,860.88. Following the completion of the transaction, the insider owned 3,195 shares in the company, valued at $2,561,687.10. This trade represents a 15.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 14,353 shares of company stock valued at $11,283,043. 0.27% of the stock is owned by insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $928.11 on Friday. The stock has a market cap of $91.19 billion, a P/E ratio of 67.50, a P/E/G ratio of 1.84 and a beta of 1.06. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $992.90. The stock has a 50 day moving average of $811.86 and a two-hundred day moving average of $794.87. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40.

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

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be paid a $5.16 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, February 25th. Equinix’s dividend payout ratio (DPR) is presently 136.44%.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of analyst reports. TD Cowen restated a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Jefferies Financial Group raised their target price on Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft set a $915.00 target price on Equinix in a research note on Tuesday, January 6th. Wells Fargo & Company raised their price objective on shares of Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, UBS Group boosted their price objective on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.