Azzad Asset Management Inc. ADV Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Azzad Asset Management Inc. ADV lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 11.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,923 shares of the financial services provider’s stock after acquiring an additional 404 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Equinix were worth $3,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley National Advisers Inc. raised its holdings in shares of Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 26 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in Equinix in the fourth quarter worth $32,000. Rise Advisors LLC purchased a new stake in Equinix in the first quarter worth $39,000. Anchor Investment Management LLC purchased a new stake in Equinix in the fourth quarter worth $49,000. Finally, CVA Family Office LLC purchased a new stake in Equinix in the fourth quarter worth $60,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EQIX has been the topic of several recent research reports. Barclays upped their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Morgan Stanley cut their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Royal Bank of Canada dropped their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. TD Cowen dropped their price objective on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Oppenheimer increased their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $872.33.

Equinix Price Performance

EQIX traded down $5.66 on Wednesday, hitting $750.72. 118,233 shares of the company’s stock traded hands, compared to its average volume of 593,603. The company’s 50 day simple moving average is $755.84 and its 200-day simple moving average is $799.46. The firm has a market cap of $71.25 billion, a price-to-earnings ratio of 75.48, a P/E/G ratio of 2.63 and a beta of 0.68. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.27%. The ex-dividend date was Tuesday, May 21st. Equinix’s dividend payout ratio is presently 170.91%.

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.