Caldwell Trust Co Acquires 1,025 Shares of Equinix, Inc. $EQIX

Caldwell Trust Co acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,025 shares of the financial services provider’s stock, valued at approximately $1,037,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Equinix in the 2nd quarter worth about $11,930,074,000. Principal Financial Group Inc. increased its holdings in shares of Equinix by 1.4% during the first quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock worth $1,941,377,000 after buying an additional 27,643 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Equinix by 26,831.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock worth $1,291,648,000 after buying an additional 1,234,521 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Equinix in the second quarter valued at approximately $1,181,260,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Equinix in the second quarter valued at approximately $1,163,662,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 5.4%

Shares of NASDAQ:EQIX opened at $997.35 on Friday. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The company has a 50 day moving average of $1,017.99 and a 200-day moving average of $1,012.18. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $98.41 billion, a price-to-earnings ratio of 59.90, a P/E/G ratio of 1.48 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $0.82. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm posted $9.83 earnings per share. Equinix’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Equinix, Inc. will post 39.01 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 18th. Equinix’s payout ratio is currently 123.96%.

Insider Buying and Selling at Equinix

In other news, insider Michael Paladin sold 307 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total value of $317,748.07. Following the transaction, the insider directly owned 2,450 shares in the company, valued at $2,535,774.50. This trade represents a 11.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total value of $137,947.50. Following the completion of the transaction, the director owned 13,734 shares in the company, valued at $15,156,567.72. This represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 770 shares of company stock worth $807,077. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their target price on Equinix from $1,015.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. TD Cowen raised their price target on Equinix from $1,166.00 to $1,210.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Equinix in a research report on Friday, October 30th. Mizuho set a $1,275.00 price objective on Equinix in a research report on Thursday, October 29th. Finally, Truist Financial boosted their price objective on Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Equinix has an average rating of “Moderate Buy” and an average target price of $1,234.13.

Equinix Company Profile

Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.

The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.