Peapack Gladstone Financial Corp Purchases 334 Shares of Equinix, Inc. (NASDAQ:EQIX)

Peapack Gladstone Financial Corp lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,089 shares of the financial services provider’s stock after buying an additional 334 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Equinix were worth $12,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the last quarter. IHT Wealth Management LLC increased its stake in shares of Equinix by 18.2% in the third quarter. IHT Wealth Management LLC now owns 714 shares of the financial services provider’s stock valued at $633,000 after buying an additional 110 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of Equinix by 2.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,600 shares of the financial services provider’s stock worth $2,310,000 after acquiring an additional 53 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Equinix in the third quarter worth approximately $276,000. Finally, Dunhill Financial LLC increased its position in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the transaction, the chief executive officer now owns 4,329 shares in the company, valued at $3,937,268.79. This represents a 24.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Down 4.4 %

NASDAQ:EQIX opened at $766.21 on Monday. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a market cap of $74.58 billion, a PE ratio of 89.62, a PEG ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a 50-day moving average of $883.46 and a 200-day moving average of $906.83.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.45%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cfra Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Mizuho decreased their price target on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Wells Fargo & Company dropped their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank raised their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Buy” and an average price target of $1,007.59.

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.