Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Argent Trust Co

Argent Trust Co lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 30.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 533 shares of the financial services provider’s stock after acquiring an additional 125 shares during the quarter. Argent Trust Co’s holdings in Equinix were worth $503,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Kestra Investment Management LLC purchased a new stake in Equinix in the 4th quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Equinix during the fourth quarter worth about $39,000. Sierra Ocean LLC acquired a new position in shares of Equinix during the 4th quarter worth about $42,000. Thompson Investment Management Inc. acquired a new stake in Equinix in the 4th quarter worth about $47,000. Finally, Key Financial Inc lifted its position in shares of Equinix by 30.4% in the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $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 19,054 shares of company stock valued at $17,466,950 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EQIX has been the topic of several research reports. Mizuho decreased their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Truist Financial lowered their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $1,007.59.

Equinix Stock Up 0.8 %

Shares of NASDAQ:EQIX opened at $776.83 on Friday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm’s 50 day moving average price is $863.06 and its 200 day moving average price is $900.92. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market cap of $75.61 billion, a price-to-earnings ratio of 90.86, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.41%. Equinix’s payout ratio is 219.42%.

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.