Pinnacle Wealth Planning Services Inc. Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

Pinnacle Wealth Planning Services Inc. lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.1% during the first quarter, Holdings Channel reports. The institutional investor owned 632 shares of the financial services provider’s stock after purchasing an additional 19 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Equinix were worth $521,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CNB Bank boosted its position in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Valley National Advisers Inc. raised its holdings in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 26 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Equinix in the fourth quarter worth $32,000. Rise Advisors LLC acquired a new position in shares of Equinix in the first quarter worth $39,000. Finally, Rational Advisors LLC acquired a new position in shares of Equinix in the first quarter worth $53,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Equinix Trading Down 1.0 %

NASDAQ:EQIX traded down $8.25 on Friday, hitting $786.82. 234,266 shares of the stock were exchanged, compared to its average volume of 447,134. The stock has a market cap of $74.68 billion, a PE ratio of 78.92, a PEG ratio of 2.72 and a beta of 0.68. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average of $771.25 and a 200-day moving average of $797.37. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $4.26 per share. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 annualized dividend and a yield of 2.17%. Equinix’s dividend payout ratio is presently 170.91%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EQIX shares. Mizuho started coverage on Equinix in a report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price target for the company. Barclays boosted their price target 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 target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. The Goldman Sachs Group began coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Finally, Morgan Stanley dropped their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $872.38.

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.