Aigen Investment Management LP Invests $1 Million in Equinix, Inc. (NASDAQ:EQIX)

Aigen Investment Management LP purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,229 shares of the financial services provider’s stock, valued at approximately $1,002,000.

Several other institutional investors have also modified their holdings of EQIX. Virtu Financial LLC bought a new position in Equinix in the 1st quarter worth approximately $4,616,000. Entropy Technologies LP bought a new position in Equinix in the 1st quarter worth approximately $12,541,000. True North Advisors LLC bought a new position in Equinix in the 1st quarter worth approximately $412,000. Benjamin Edwards Inc. grew its holdings in Equinix by 18.9% in the 1st quarter. Benjamin Edwards Inc. now owns 36,378 shares of the financial services provider’s stock worth $29,662,000 after buying an additional 5,776 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Equinix by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider’s stock worth $1,296,871,000 after buying an additional 291,753 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup increased their price objective on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a report on Monday, May 5th. TD Securities upped their target price on Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. The Goldman Sachs Group cut their target price on Equinix from $1,020.00 to $880.00 and set a “buy” rating for the company in a research report on Wednesday, July 2nd. Cfra Research downgraded Equinix from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Wolfe Research downgraded Equinix from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. Five analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $959.86.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer directly owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director owned 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Equinix Price Performance

NASDAQ EQIX opened at $776.20 on Monday. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The stock has a market capitalization of $75.96 billion, a PE ratio of 76.02, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. The company has a 50 day moving average price of $820.97 and a two-hundred day moving average price of $847.72.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $6.42. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $9.22 earnings per share. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix’s payout ratio is currently 183.74%.

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.