Scissortail Wealth Management LLC Buys New Position in Equinix, Inc. (NASDAQ:EQIX)

Scissortail Wealth Management LLC bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the 4th quarter, HoldingsChannel reports. The firm bought 725 shares of the financial services provider’s stock, valued at approximately $603,000.

Several other hedge funds have also modified their holdings of the stock. Valley National Advisers Inc. increased its holdings in Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 26 shares during the last quarter. Providence Capital Advisors LLC purchased a new stake in Equinix during the 3rd quarter worth approximately $29,000. Operose Advisors LLC purchased a new stake in Equinix during the 3rd quarter worth approximately $36,000. Asset Dedication LLC increased its holdings in Equinix by 92.6% during the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares during the last quarter. Finally, Quarry LP increased its holdings in Equinix by 237.5% during the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 38 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Trading Up 0.4 %

Shares of Equinix stock traded up $3.05 on Wednesday, reaching $745.19. 43,066 shares of the company were exchanged, compared to its average volume of 553,559. The stock has a fifty day moving average price of $840.28 and a 200-day moving average price of $802.23. The firm has a market capitalization of $70.51 billion, a price-to-earnings ratio of 71.98, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Insider Transactions at Equinix

In other news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the transaction, the executive vice president now owns 1,242 shares in the company, valued at approximately $1,034,548.74. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 over the last three months. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EQIX shares. Stifel Nicolaus restated a “buy” rating and set a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Barclays decreased their target price on Equinix from $788.00 to $781.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada lifted their target price on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $868.72.

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.