Parcion Private Wealth LLC Has $5.61 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Parcion Private Wealth LLC raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,321 shares of the financial services provider’s stock after buying an additional 559 shares during the period. Parcion Private Wealth LLC’s holdings in Equinix were worth $5,610,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Swedbank AB acquired a new position in Equinix during the 1st quarter worth $294,526,000. Principal Financial Group Inc. increased its stake in 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 valued at $1,428,606,000 after acquiring an additional 238,883 shares during the period. Vanguard Group Inc. increased its stake in Equinix by 1.9% in 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 acquiring an additional 238,815 shares during the period. M&G Plc bought a new stake in Equinix in the first quarter valued at about $187,089,000. Finally, Quadrature Capital Ltd bought a new stake in Equinix in the first quarter valued at about $145,308,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Up 2.1 %

NASDAQ EQIX opened at $914.33 on Friday. The company has a market capitalization of $86.78 billion, a P/E ratio of 91.71, a P/E/G ratio of 2.13 and a beta of 0.71. The stock has a 50 day moving average price of $859.85 and a 200-day moving average price of $800.30. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $8.04 EPS. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EQIX. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Evercore ISI upped their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday. Mizuho upped their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $918.40.

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.