Revolve Wealth Partners LLC Buys New Position in Equinix, Inc. (NASDAQ:EQIX)

Revolve Wealth Partners LLC purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 1st quarter, Holdings Channel.com reports. The fund purchased 2,647 shares of the financial services provider’s stock, valued at approximately $2,158,000.

Several other institutional investors have also recently made changes to their positions in EQIX. Pinney & Scofield Inc. acquired a new position in shares of Equinix during the 4th quarter worth approximately $28,000. Kestra Investment Management LLC bought a new stake in shares of Equinix during the 4th quarter valued at $31,000. Whipplewood Advisors LLC lifted its position in shares of Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 23 shares during the period. Pacific Center for Financial Services lifted its position in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 15 shares during the period. Finally, J.Safra Asset Management Corp bought a new stake in shares of Equinix during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now owns 17,569 shares of the company’s stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider now directly owns 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is currently owned by company insiders.

Equinix Price Performance

Shares of Equinix stock opened at $914.43 on Friday. The firm has a market cap of $89.45 billion, a PE ratio of 106.95, a PEG ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The stock has a 50 day moving average of $839.65 and a 200 day moving average of $890.49. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the company earned $8.86 EPS. Equinix’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.05%. Equinix’s dividend payout ratio is presently 195.01%.

Analyst Ratings Changes

EQIX has been the subject of several recent analyst reports. Citigroup upped their price objective on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Barclays lifted their price objective on Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 27th. Wells Fargo & Company cut their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Mizuho lowered their target price on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Finally, Scotiabank decreased their price objective on Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $1,004.80.

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.