Keel Point LLC Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Keel Point LLC purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 260 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Braun Stacey Associates Inc. raised its position in Equinix by 12.5% in the fourth quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after purchasing an additional 3,591 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Equinix by 9.8% in the fourth quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock valued at $109,459,000 after buying an additional 12,129 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Equinix by 127.8% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock valued at $1,130,000 after acquiring an additional 787 shares during the last quarter. TIAA Trust National Association grew its holdings in Equinix by 126.8% during the 4th quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock worth $3,417,000 after acquiring an additional 2,372 shares during the period. Finally, DNB Asset Management AS raised its position in shares of Equinix by 20.3% in the 4th quarter. DNB Asset Management AS now owns 24,459 shares of the financial services provider’s stock worth $19,699,000 after acquiring an additional 4,132 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 1.0 %

EQIX opened at $734.56 on Thursday. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The company’s 50-day moving average price is $838.03 and its two-hundred day moving average price is $801.76. The stock has a market cap of $69.50 billion, a price-to-earnings ratio of 71.25, a PEG ratio of 1.92 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.32%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is 165.28%.

Insiders Place Their Bets

In other news, EVP Scott Crenshaw sold 460 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total transaction of $383,166.20. Following the transaction, the executive vice president now owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Keith D. Taylor sold 1,164 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Crenshaw sold 460 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the sale, the executive vice president now owns 1,242 shares in the company, valued at approximately $1,034,548.74. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock valued at $3,818,268 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EQIX has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Oppenheimer increased their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Barclays lowered their target price on Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $862.50.

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.