Peapack Gladstone Financial Corp Has $12.34 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Peapack Gladstone Financial Corp grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,089 shares of the financial services provider’s stock after purchasing an additional 334 shares during the period. Peapack Gladstone Financial Corp’s holdings in Equinix were worth $12,341,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank bought a new position in Equinix in the fourth quarter valued at $1,067,270,000. Wellington Management Group LLP increased its position in shares of Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Equinix during the fourth quarter worth about $328,899,000. Proficio Capital Partners LLC bought a new position in Equinix in the fourth quarter valued at approximately $246,000. Finally, JPMorgan Chase & Co. increased its position in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

EQIX has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Mizuho decreased their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. BMO Capital Markets dropped their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $1,007.59.

Equinix Trading Down 4.4 %

Shares of EQIX stock opened at $766.21 on Monday. The stock has a market cap of $74.58 billion, a P/E ratio of 89.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $883.46 and a 200 day simple moving average of $906.83.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

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

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the sale, the chief executive officer now directly owns 4,329 shares in the company, valued at $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. Company insiders own 0.27% of the company’s stock.

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.