New Age Alpha Advisors LLC Buys New Holdings in Equinix, Inc. (NASDAQ:EQIX)

New Age Alpha Advisors LLC purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,861 shares of the financial services provider’s stock, valued at approximately $18,727,000. Equinix comprises 0.8% of New Age Alpha Advisors LLC’s holdings, making the stock its 18th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Equinix during the fourth quarter worth $1,067,270,000. Loomis Sayles & Co. L P raised its position in Equinix by 17.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 228 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 34 shares in the last quarter. NEOS Investment Management LLC lifted its stake in Equinix by 30.7% during the fourth quarter. NEOS Investment Management LLC now owns 5,292 shares of the financial services provider’s stock worth $4,990,000 after purchasing an additional 1,244 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Equinix by 53.0% in the 4th quarter. UniSuper Management Pty Ltd now owns 48,631 shares of the financial services provider’s stock valued at $45,854,000 after purchasing an additional 16,852 shares in the last quarter. Finally, Sava Infond d.o.o. acquired a new stake in shares of Equinix in the 4th quarter valued at $627,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

EQIX opened at $825.31 on Friday. The stock has a market capitalization of $80.33 billion, a P/E ratio of 96.53, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company’s 50-day simple moving average is $898.21 and its two-hundred day simple moving average is $908.63. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 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%. As a group, analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares in the company, 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. In the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent research reports. Truist Financial cut their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Wolfe Research raised shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price on the stock in a research note on Thursday. JMP Securities restated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Barclays boosted their price objective on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Finally, BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix has a consensus rating of “Buy” and an average price target of $989.39.

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.