1,083 Shares in Equinix, Inc. (NASDAQ:EQIX) Bought by Iams Wealth Management LLC

Iams Wealth Management LLC bought a new position in Equinix, Inc. (NASDAQ:EQIX) during the first quarter, Holdings Channel reports. The fund bought 1,083 shares of the financial services provider’s stock, valued at approximately $966,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Equinix by 0.3% in the third quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock worth $8,883,018,000 after buying an additional 34,926 shares during the period. Cohen & Steers Inc. boosted its position in shares of Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after buying an additional 13,988 shares during the period. Norges Bank acquired a new stake in shares of Equinix in the fourth quarter worth $1,574,132,000. Principal Financial Group Inc. boosted its position in Equinix by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,435,568 shares of the financial services provider’s stock valued at $1,156,193,000 after purchasing an additional 37,150 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Equinix by 1.4% during the fourth quarter. Wellington Management Group LLP now owns 992,401 shares of the financial services provider’s stock valued at $799,270,000 after purchasing an additional 13,274 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EQIX has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on Equinix in a research report on Monday. They issued a “buy” rating and a $870.00 price target for the company. Truist Financial boosted their price target on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada reduced their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target on the stock. in a research note on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $872.33.

Equinix Trading Down 0.5 %

Shares of EQIX traded down $3.61 during trading hours on Tuesday, reaching $756.07. The stock had a trading volume of 68,713 shares, compared to its average volume of 595,120. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The firm has a 50-day moving average of $755.85 and a 200 day moving average of $800.12. The company has a market cap of $71.76 billion, a P/E ratio of 76.68, a P/E/G ratio of 2.63 and a beta of 0.68.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares of the company’s stock, valued at $10,212,779. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

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.