Vanderbilt University Has $7.89 Million Holdings in Equinix, Inc. $EQIX

Vanderbilt University grew its position in Equinix, Inc. (NASDAQ:EQIX) by 65.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,298 shares of the financial services provider’s stock after purchasing an additional 4,089 shares during the period. Equinix comprises about 1.3% of Vanderbilt University’s holdings, making the stock its 13th largest position. Vanderbilt University’s holdings in Equinix were worth $7,890,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. increased its position in Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 26 shares during the last quarter. Abound Wealth Management increased its position in Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 23 shares during the last quarter. Princeton Global Asset Management LLC increased its position in Equinix by 200.0% in the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Equinix by 40.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 13 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in Equinix in the 3rd quarter worth about $37,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jonathan Lin sold 635 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total transaction of $613,225.85. Following the completion of the sale, the insider owned 10,788 shares in the company, valued at $10,418,079.48. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brandi Galvin Morandi sold 630 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total value of $605,549.70. Following the sale, the insider owned 10,394 shares of the company’s stock, valued at approximately $9,990,608.86. The trade was a 5.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,842 shares of company stock worth $14,494,840 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the topic of several research reports. The Goldman Sachs Group upped their target price on Equinix from $785.00 to $894.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating and set a $1,075.00 price target on shares of Equinix in a research note on Friday, February 13th. UBS Group upped their price target on Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, TD Cowen reiterated a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,019.27.

Equinix Stock Performance

EQIX opened at $1,007.29 on Wednesday. The company has a market cap of $98.97 billion, a PE ratio of 73.26, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01. The stock has a 50-day moving average of $935.16 and a 200-day moving average of $837.88. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $1,016.39. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company earned $7.92 EPS. Equinix’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were paid a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is currently 150.11%.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.