Stiles Financial Services Inc Purchases 102 Shares of Equinix, Inc. (NASDAQ:EQIX)

Stiles Financial Services Inc increased its position in Equinix, Inc. (NASDAQ:EQIX) by 23.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 539 shares of the financial services provider’s stock after acquiring an additional 102 shares during the period. Stiles Financial Services Inc’s holdings in Equinix were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EQIX. Vanguard Group Inc. increased its stake in shares of Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. Cohen & Steers Inc. increased its position in Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after buying an additional 13,988 shares in the last quarter. Norges Bank purchased a new stake in Equinix in the fourth quarter worth about $1,574,132,000. Principal Financial Group Inc. raised its stake in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after buying an additional 238,883 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after buying an additional 47,795 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 1.9 %

NASDAQ EQIX traded up $15.62 during trading hours on Monday, hitting $834.36. 520,900 shares of the company were exchanged, compared to its average volume of 552,090. The stock has a market cap of $79.19 billion, a PE ratio of 83.69, a price-to-earnings-growth ratio of 2.03 and a beta of 0.68. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The stock has a 50-day moving average price of $792.98 and a 200 day moving average price of $794.78. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business earned $8.04 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts forecast that Equinix, Inc. will post 31.04 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.04%. Equinix’s payout ratio is 170.91%.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. TD Cowen upped their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Mizuho initiated coverage on Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price objective on the stock. Finally, Truist Financial increased their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $876.71.

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.