LRI Investments LLC Acquires New Holdings in Equinix, Inc. (NASDAQ:EQIX)

LRI Investments LLC bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38 shares of the financial services provider’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Equinix in the fourth quarter worth $1,574,132,000. 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 worth $10,319,917,000 after buying an additional 238,815 shares in the last quarter. M&G Plc acquired a new position in shares of Equinix in the first quarter valued at approximately $187,089,000. Principal Financial Group Inc. lifted its stake in shares of Equinix by 14.9% during the first quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock valued at $1,361,224,000 after buying an additional 213,740 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Equinix during the first quarter worth approximately $145,308,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several analyst reports. Barclays raised 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. Royal Bank of Canada cut their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Mizuho started coverage on shares of Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price on the stock. 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 price target on the stock. Finally, TD Cowen lowered their price objective on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $875.50.

Insider Buying and Selling

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

Equinix Stock Down 0.6 %

Shares of NASDAQ:EQIX opened at $806.65 on Friday. The firm has a market cap of $76.56 billion, a PE ratio of 80.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The company has a fifty day simple moving average of $771.50 and a 200 day simple moving average of $796.51. 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, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.11%. Equinix’s dividend payout ratio (DPR) 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.