Summit Financial LLC Purchases 552 Shares of Equinix, Inc. (NASDAQ:EQIX)

Summit Financial LLC boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 164.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 887 shares of the financial services provider’s stock after acquiring an additional 552 shares during the quarter. Summit Financial LLC’s holdings in Equinix were worth $836,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQIX. Kestra Investment Management LLC acquired a new stake in shares of Equinix during the 4th quarter worth about $31,000. J.Safra Asset Management Corp bought a new stake in Equinix during the fourth quarter worth about $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix during the fourth quarter worth approximately $42,000. Dunhill Financial LLC raised its stake in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. acquired a new position in shares of Equinix in the 4th quarter worth approximately $47,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the transaction, the insider now directly owns 1,430 shares of the company’s stock, valued at $1,292,319.60. This represents a 19.25 % 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 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Up 1.8 %

Equinix stock opened at $831.55 on Thursday. The firm has a market capitalization of $80.94 billion, a price-to-earnings ratio of 97.26, a PEG ratio of 1.78 and a beta of 0.74. The company’s 50 day simple moving average is $889.74 and its 200 day simple moving average is $907.72. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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, sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given 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 dividend yield of 2.26%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Barclays lifted their price objective on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Wells Fargo & Company reduced their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets lowered 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. Royal Bank of Canada boosted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Oppenheimer increased their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $1,007.59.

Equinix Company 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.