West Michigan Advisors LLC Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

West Michigan Advisors LLC increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 23.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 557 shares of the financial services provider’s stock after purchasing an additional 107 shares during the period. West Michigan Advisors LLC’s holdings in Equinix were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Equinix during the fourth quarter valued at $31,000. Sierra Ocean LLC acquired a new stake in Equinix during the fourth quarter valued at $42,000. Dunhill Financial LLC grew its position in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares during the period. Thompson Investment Management Inc. acquired a new stake in Equinix during the fourth quarter valued at $47,000. Finally, Key Financial Inc grew its position in Equinix by 30.4% during the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock valued at $57,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on EQIX shares. Truist Financial raised their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Royal Bank of Canada raised their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Scotiabank dropped their target price on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets dropped their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $994.82.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,741 shares of company stock valued at $21,988,532 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

EQIX opened at $904.62 on Friday. The firm has a market capitalization of $88.05 billion, a PE ratio of 105.80, a PEG ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm’s 50-day moving average price is $928.20 and its 200 day moving average price is $904.71. 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 earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.07%. Equinix’s payout ratio is 219.42%.

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.