576 Shares in Equinix, Inc. (NASDAQ:EQIX) Acquired by Overbrook Management Corp

Overbrook Management Corp bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 576 shares of the financial services provider’s stock, valued at approximately $475,000.

Other hedge funds also recently modified their holdings of the company. Vert Asset Management LLC increased its holdings in shares of Equinix by 5.3% during the first quarter. Vert Asset Management LLC now owns 20,262 shares of the financial services provider’s stock worth $16,723,000 after buying an additional 1,016 shares in the last quarter. Sunbelt Securities Inc. raised its position in Equinix by 7,355.6% during the 1st quarter. Sunbelt Securities Inc. now owns 671 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 662 shares during the last quarter. Richelieu Gestion SA grew its position in shares of Equinix by 700.0% during the 1st quarter. Richelieu Gestion SA now owns 200 shares of the financial services provider’s stock worth $165,000 after buying an additional 175 shares during the period. Riverview Trust Co bought a new stake in shares of Equinix in the 1st quarter valued at $163,000. Finally, Strong Tower Advisory Services lifted its position in shares of Equinix by 7.6% during the 1st quarter. Strong Tower Advisory Services now owns 568 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 40 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EQIX shares. Morgan Stanley decreased their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. TD Cowen reduced their price objective on Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a report on Wednesday, March 20th. Finally, Oppenheimer increased their price objective on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $872.50.

Insider Transactions at Equinix

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

Equinix Stock Performance

NASDAQ:EQIX traded up $10.09 during trading hours on Thursday, reaching $751.96. The stock had a trading volume of 331,670 shares, compared to its average volume of 596,626. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $71.37 billion, a P/E ratio of 74.76, a price-to-earnings-growth ratio of 2.59 and a beta of 0.68. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The stock has a 50 day simple moving average of $755.44 and a 200 day simple moving average of $800.82.

Equinix Dividend Announcement

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

About Equinix

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.