MRA Advisory Group Boosts Holdings in Equinix, Inc. (NASDAQ:EQIX)

MRA Advisory Group increased its position in Equinix, Inc. (NASDAQ:EQIX) by 3.2% during the second quarter, HoldingsChannel.com reports. The firm owned 419 shares of the financial services provider’s stock after acquiring an additional 13 shares during the quarter. MRA Advisory Group’s holdings in Equinix were worth $317,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares during the last quarter. Cohen & Steers Inc. boosted its stake in Equinix by 0.5% during the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after purchasing an additional 13,988 shares during the last quarter. Norges Bank bought a new stake in shares of Equinix in the 4th quarter worth $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 purchasing an additional 238,883 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Equinix by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after buying an additional 47,795 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,472 shares of company stock valued at $6,154,812. 0.27% of the stock is owned by company insiders.

Equinix Price Performance

NASDAQ EQIX opened at $817.96 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The stock has a market cap of $77.63 billion, a price-to-earnings ratio of 82.04, a PEG ratio of 2.03 and a beta of 0.71. The company’s 50 day moving average is $800.75 and its two-hundred day moving average is $794.06.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the firm posted $8.04 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Equinix, Inc. will post 31.04 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EQIX shares. The Goldman Sachs Group assumed coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Barclays lifted their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Finally, Mizuho started coverage on Equinix in a report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price on the stock. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.