First National Trust Co Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

First National Trust Co grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,539 shares of the financial services provider’s stock after purchasing an additional 276 shares during the period. First National Trust Co’s holdings in Equinix were worth $7,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after buying an additional 813,666 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Equinix in the fourth quarter valued at $328,899,000. Adelante Capital Management LLC increased its stake in shares of Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Equinix in the fourth quarter valued at approximately $246,000. Finally, JPMorgan Chase & Co. increased its holdings in Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $833.95 on Friday. The firm has a market cap of $81.17 billion, a price-to-earnings ratio of 97.54, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s fifty day moving average price is $914.84 and its two-hundred day moving average price is $907.30.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.25%. Equinix’s payout ratio is 219.42%.

Wall Street Analyst Weigh In

EQIX has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Truist Financial lowered their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday. Oppenheimer boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of “Buy” and an average price target of $989.35.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by corporate insiders.

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.