Northern Trust Corp lifted its stake in shares of Equinix Inc (NASDAQ:EQIX) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,197,068 shares of the financial services provider’s stock after acquiring an additional 80,619 shares during the quarter. Northern Trust Corp owned approximately 1.48% of Equinix worth $542,463,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Washington Trust Bank acquired a new stake in shares of Equinix in the first quarter valued at about $29,000. Spectrum Management Group Inc. purchased a new stake in shares of Equinix in the 1st quarter valued at approximately $29,000. Pearl River Capital LLC purchased a new stake in shares of Equinix in the 4th quarter valued at approximately $35,000. Proficio Capital Partners LLC raised its stake in shares of Equinix by 116.7% in the 4th quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 63 shares during the period. Finally, Lindbrook Capital LLC purchased a new stake in Equinix during the 4th quarter worth approximately $47,000. 99.65% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:EQIX traded up $6.10 during mid-day trading on Friday, hitting $504.29. 377,664 shares of the company’s stock traded hands, compared to its average volume of 490,149. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.25. The business has a 50 day simple moving average of $495.45. Equinix Inc has a 1 year low of $335.29 and a 1 year high of $516.95. The stock has a market capitalization of $40.28 billion, a P/E ratio of 24.37, a PEG ratio of 1.70 and a beta of 0.76.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $2.46 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $9.84 annualized dividend and a dividend yield of 1.95%. Equinix’s dividend payout ratio is currently 47.56%.
In related news, insider Michael Earl Campbell sold 250 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $445.74, for a total value of $111,435.00. Following the sale, the insider now directly owns 3,578 shares of the company’s stock, valued at $1,594,857.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles J. Meyers sold 282 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $462.31, for a total transaction of $130,371.42. Following the completion of the sale, the chief executive officer now directly owns 5,882 shares in the company, valued at $2,719,307.42. The disclosure for this sale can be found here. Insiders have sold a total of 2,982 shares of company stock worth $1,444,590 over the last ninety days. 0.49% of the stock is owned by corporate insiders.
Several equities research analysts recently weighed in on EQIX shares. BidaskClub downgraded shares of Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Citigroup increased their price objective on shares of Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Credit Suisse Group increased their price objective on shares of Equinix from $474.00 to $506.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. ValuEngine raised shares of Equinix from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, Oppenheimer increased their price objective on shares of Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Equinix currently has an average rating of “Buy” and an average price target of $502.47.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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