Equinix, Inc. $EQIX is DigitalBridge Group Inc.’s Largest Position

DigitalBridge Group Inc. lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 33.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,366 shares of the financial services provider’s stock after acquiring an additional 28,726 shares during the quarter. Equinix accounts for approximately 7.1% of DigitalBridge Group Inc.’s portfolio, making the stock its largest holding. DigitalBridge Group Inc. owned about 0.12% of Equinix worth $90,359,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EQIX. Ameriflex Group Inc. raised its stake in shares of Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 26 shares in the last quarter. Abound Wealth Management raised its position in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Equinix in the second quarter valued at $28,000. Salomon & Ludwin LLC purchased a new stake in shares of Equinix during the 3rd quarter worth $37,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 13 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Down 0.8%

EQIX opened at $976.88 on Wednesday. The firm has a market cap of $95.98 billion, a P/E ratio of 71.05, a PEG ratio of 2.53 and a beta of 1.04. The business’s fifty day simple moving average is $879.80 and its 200 day simple moving average is $816.78. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $992.90. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the firm posted $7.92 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 2.1%. Equinix’s payout ratio is currently 150.11%.

Insider Activity

In other Equinix news, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $965.71, for a total value of $613,225.85. Following the completion of the sale, the insider directly owned 10,788 shares of the company’s stock, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 584 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the transaction, the executive vice president owned 7,768 shares of the company’s stock, valued at $7,501,479.92. This trade represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,842 shares of company stock valued at $14,494,840 in the last 90 days. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EQIX shares. The Goldman Sachs Group upped their target price on Equinix from $785.00 to $894.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Wall Street Zen downgraded shares of Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Truist Financial upped their price target on shares of Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Sanford C. Bernstein assumed coverage on shares of Equinix in a research report on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,006.91.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.