Amalgamated Bank Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Amalgamated Bank grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,967 shares of the financial services provider’s stock after acquiring an additional 798 shares during the period. Amalgamated Bank’s holdings in Equinix were worth $16,354,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Belpointe Asset Management LLC increased its holdings in shares of Equinix by 17.5% in the third quarter. Belpointe Asset Management LLC now owns 673 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 100 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Equinix by 74.7% in the third quarter. Two Sigma Advisers LP now owns 29,000 shares of the financial services provider’s stock worth $16,496,000 after purchasing an additional 12,400 shares during the period. Bank of Nova Scotia increased its holdings in shares of Equinix by 1.4% in the fourth quarter. Bank of Nova Scotia now owns 7,875 shares of the financial services provider’s stock worth $5,158,000 after purchasing an additional 105 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Equinix by 7.3% in the fourth quarter. New York State Common Retirement Fund now owns 203,298 shares of the financial services provider’s stock worth $133,166,000 after purchasing an additional 13,778 shares during the period. Finally, Gateway Investment Advisers LLC increased its holdings in shares of Equinix by 9.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 844 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Equinix Stock Up 3.3 %

EQIX traded up $23.17 during trading on Friday, hitting $730.43. The stock had a trading volume of 258,473 shares, compared to its average volume of 390,842. The company has a market capitalization of $68.31 billion, a PE ratio of 80.10, a PEG ratio of 2.15 and a beta of 0.63. Equinix, Inc. has a twelve month low of $494.89 and a twelve month high of $762.51. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a 50 day simple moving average of $709.53 and a two-hundred day simple moving average of $695.66.

Equinix (NASDAQ:EQIX – Get Rating) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $2.77 earnings per share for the quarter, missing the consensus estimate of $7.00 by ($4.23). The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Equinix had a net margin of 10.84% and a return on equity of 7.20%. Equinix’s revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business earned $7.16 earnings per share. On average, research analysts predict that Equinix, Inc. will post 27.42 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 24th will be issued a $3.41 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $13.64 annualized dividend and a yield of 1.87%. Equinix’s payout ratio is 154.47%.

Insider Buying and Selling at Equinix

In other Equinix news, insider Michael Earl Campbell sold 1,600 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $739.50, for a total value of $1,183,200.00. Following the transaction, the insider now directly owns 12,906 shares in the company, valued at approximately $9,543,987. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Simon Miller sold 380 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $671.43, for a total value of $255,143.40. Following the transaction, the chief accounting officer now directly owns 5,078 shares in the company, valued at approximately $3,409,521.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Earl Campbell sold 1,600 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $739.50, for a total transaction of $1,183,200.00. Following the completion of the transaction, the insider now owns 12,906 shares in the company, valued at $9,543,987. The disclosure for this sale can be found here. Insiders have sold 19,899 shares of company stock worth $14,268,740 in the last ninety days. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stifel Nicolaus increased their target price on Equinix from $820.00 to $835.00 in a research note on Thursday, May 4th. Credit Suisse Group increased their target price on Equinix from $753.00 to $768.00 in a research note on Thursday, May 4th. Citigroup raised their price objective on Equinix from $825.00 to $830.00 in a research note on Friday, May 5th. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $755.00 to $785.00 in a research note on Monday, March 27th. Finally, Barclays boosted their price target on Equinix from $687.00 to $700.00 in a report on Thursday, May 4th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $781.11.

About Equinix

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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.