Seven Mile Advisory Makes New $225,000 Investment in Equinix, Inc. (NASDAQ:EQIX)

Seven Mile Advisory bought a new stake in Equinix, Inc. (NASDAQ:EQIX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 239 shares of the financial services provider’s stock, valued at approximately $225,000.

Other large investors also recently made changes to their positions in the company. Summit Financial LLC grew its holdings in Equinix by 164.8% in the 4th quarter. Summit Financial LLC now owns 887 shares of the financial services provider’s stock valued at $836,000 after buying an additional 552 shares in the last quarter. Axiom Investors LLC DE boosted its position in shares of Equinix by 170.6% in the fourth quarter. Axiom Investors LLC DE now owns 118,311 shares of the financial services provider’s stock valued at $111,554,000 after acquiring an additional 74,592 shares during the period. Wellington Management Group LLP grew its stake in shares of Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after acquiring an additional 401,991 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Equinix by 32.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,824 shares of the financial services provider’s stock worth $8,320,000 after acquiring an additional 2,178 shares during the period. Finally, California Public Employees Retirement System raised its stake in Equinix by 0.6% in the 4th quarter. California Public Employees Retirement System now owns 350,704 shares of the financial services provider’s stock worth $330,675,000 after purchasing an additional 2,166 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 684 shares of the business’s 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 owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares in the company, valued at $13,859,135.73. This trade represents a 27.53 % 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 worth $17,466,950 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of analyst reports. Barclays increased their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Truist Financial lowered their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Finally, Scotiabank boosted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $1,007.59.

Equinix Trading Down 2.7 %

Shares of Equinix stock opened at $803.00 on Monday. 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, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The stock has a 50 day moving average price of $895.96 and a two-hundred day moving average price of $909.02. The stock has a market capitalization of $78.16 billion, a PE ratio of 93.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate 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 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 was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.34%. This is an increase from Equinix’s previous quarterly dividend of $4.26. 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.