Scissortail Wealth Management LLC Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Scissortail Wealth Management LLC bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 725 shares of the financial services provider’s stock, valued at approximately $603,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Equinix by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock worth $8,883,018,000 after acquiring an additional 34,926 shares during the period. Geode Capital Management LLC raised its holdings in Equinix by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 2,004,008 shares of the financial services provider’s stock valued at $1,441,837,000 after buying an additional 23,150 shares during the period. Principal Financial Group Inc. raised its holdings in Equinix by 44.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after buying an additional 431,435 shares during the period. Northern Trust Corp raised its holdings in Equinix by 1.7% in the 3rd quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock valued at $862,790,000 after buying an additional 20,241 shares during the period. Finally, Norges Bank purchased a new stake in Equinix in the 4th quarter valued at about $725,557,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In other news, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the sale, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at $8,422,659.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles J. Meyers sold 2,110 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the completion of the sale, the chief executive officer now owns 10,115 shares in the company, valued at $8,422,659.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the sale, the chairman now owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,585 shares of company stock valued at $3,818,268. 0.32% of the stock is currently owned by company insiders.

Equinix Stock Performance

Shares of EQIX stock traded up $3.05 during trading hours on Wednesday, hitting $745.19. The stock had a trading volume of 43,066 shares, compared to its average volume of 553,559. The firm has a market capitalization of $70.51 billion, a PE ratio of 71.98, a PEG ratio of 1.78 and a beta of 0.58. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The stock’s 50 day moving average is $840.28 and its 200 day moving average is $802.23. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Tuesday, February 27th. Equinix’s payout ratio is currently 165.28%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Oppenheimer boosted their price target on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Morgan Stanley cut their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Finally, HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $868.72.

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.