Blue Square Asset Management LLC Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Blue Square Asset Management LLC lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 24.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,065 shares of the financial services provider’s stock after purchasing an additional 408 shares during the quarter. Blue Square Asset Management LLC’s holdings in Equinix were worth $1,704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Goelzer Investment Management Inc. grew its holdings in shares of Equinix by 0.3% in the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock valued at $3,364,000 after purchasing an additional 13 shares in the last quarter. Sage Mountain Advisors LLC grew its holdings in shares of Equinix by 3.9% in the fourth quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 14 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Equinix by 3.0% during the first quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after buying an additional 14 shares during the period. Ieq Capital LLC boosted its stake in Equinix by 0.5% during the fourth quarter. Ieq Capital LLC now owns 2,923 shares of the financial services provider’s stock worth $2,354,000 after buying an additional 15 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Equinix by 0.5% during the first quarter. Assenagon Asset Management S.A. now owns 3,205 shares of the financial services provider’s stock worth $2,645,000 after buying an additional 15 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

NASDAQ EQIX traded up $21.84 during trading hours on Thursday, reaching $797.80. The stock had a trading volume of 459,343 shares, compared to its average volume of 585,720. The stock has a fifty day moving average of $759.69 and a 200 day moving average of $797.66. The stock has a market cap of $75.72 billion, a P/E ratio of 80.02, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.14%. Equinix’s dividend payout ratio is currently 170.91%.

Insider Activity at Equinix

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on EQIX shares. TD Cowen dropped their price objective on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Royal Bank of Canada decreased their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Mizuho started coverage on Equinix in a report on Thursday. They issued an “outperform” rating and a $873.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 target price for the company. Finally, Barclays boosted their target price on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $872.38.

About Equinix

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.