Abbrea Capital LLC Purchases New Position in Equinix, Inc. (NASDAQ:EQIX)

Abbrea Capital LLC purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 256 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other institutional investors also recently bought and sold shares of EQIX. Valley National Advisers Inc. grew its holdings in Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 26 shares during the period. Providence Capital Advisors LLC acquired a new stake in shares of Equinix in the third quarter worth approximately $29,000. Criterion Capital Advisors LLC acquired a new stake in shares of Equinix in the fourth quarter worth approximately $32,000. Operose Advisors LLC acquired a new position in Equinix during the third quarter worth $36,000. Finally, Asset Dedication LLC boosted its stake in Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after buying an additional 25 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

EQIX traded down $18.49 on Thursday, hitting $738.35. 812,622 shares of the company traded hands, compared to its average volume of 568,639. The company has a 50 day moving average of $828.73 and a 200-day moving average of $803.06. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $69.86 billion, a PE ratio of 73.41, a PEG ratio of 1.97 and a beta of 0.58. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is 165.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EQIX shares. BMO Capital Markets boosted their price objective on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 target price on shares of Equinix in a research report on Wednesday, March 13th. Oppenheimer lifted their target price on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Royal Bank of Canada lifted their target price on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $862.50.

Insider Transactions at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the firm’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 completion of the transaction, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Camp Peter Van sold 122 shares of the firm’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 completion of the transaction, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Crenshaw sold 460 shares of the stock in a transaction on Tuesday, February 13th. The shares were 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. In the last three months, insiders sold 4,585 shares of company stock valued at $3,818,268. 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.