Equinix, Inc. (NASDAQ:EQIX) Stock Holdings Decreased by Gradient Investments LLC

Gradient Investments LLC decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 71.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,545 shares of the financial services provider’s stock after selling 18,808 shares during the quarter. Gradient Investments LLC’s holdings in Equinix were worth $4,943,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EQIX. CoreCap Advisors LLC acquired a new stake in Equinix during the second quarter valued at approximately $25,000. Guardian Wealth Advisors LLC bought a new stake in shares of Equinix during the 3rd quarter worth $32,000. Advanced Research Investment Solutions LLC acquired a new stake in shares of Equinix in the third quarter worth $67,000. Core Alternative Capital boosted its position in shares of Equinix by 44.4% in the third quarter. Core Alternative Capital now owns 130 shares of the financial services provider’s stock worth $74,000 after buying an additional 40 shares during the period. Finally, CVA Family Office LLC boosted its position in shares of Equinix by 70.5% in the third quarter. CVA Family Office LLC now owns 133 shares of the financial services provider’s stock worth $76,000 after buying an additional 55 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Equinix

In related news, CAO Simon Miller sold 380 shares of the 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 $3,409,521.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Equinix news, CEO Charles J. Meyers sold 7,378 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $706.45, for a total value of $5,212,188.10. Following the completion of the sale, the chief executive officer now owns 16,599 shares of the company’s stock, valued at $11,726,363.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $255,143.40. Following the completion of the sale, the chief accounting officer now directly owns 5,078 shares of the company’s stock, valued at approximately $3,409,521.54. The disclosure for this sale can be found here. Insiders have sold 20,971 shares of company stock worth $14,666,488 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Equinix Trading Down 1.7 %

EQIX opened at $690.85 on Friday. The firm has a 50 day simple moving average of $710.66 and a 200 day simple moving average of $652.89. Equinix, Inc. has a fifty-two week low of $494.89 and a fifty-two week high of $776.35. The company has a market cap of $64.10 billion, a price-to-earnings ratio of 89.95, a price-to-earnings-growth ratio of 2.29 and a beta of 0.61. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.80 and a quick ratio of 1.80.

Equinix (NASDAQ:EQIX – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The financial services provider reported $1.39 earnings per share for the quarter, missing the consensus estimate of $5.90 by ($4.51). Equinix had a net margin of 9.70% and a return on equity of 6.37%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $6.22 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that Equinix, Inc. will post 27.53 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Tuesday, March 7th will be issued a $3.41 dividend. This is a positive change from Equinix’s previous quarterly dividend of $3.10. This represents a $13.64 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Monday, March 6th. Equinix’s dividend payout ratio is currently 177.60%.

Analyst Ratings Changes

A number of research firms recently commented on EQIX. BMO Capital Markets increased their price objective on Equinix from $740.00 to $755.00 and gave the stock a “market perform” rating in a report on Thursday, February 16th. Wells Fargo & Company increased their price objective on Equinix from $675.00 to $785.00 in a research report on Wednesday, December 14th. Exane BNP Paribas began coverage on Equinix in a research report on Wednesday, December 14th. They issued an “outperform” rating for the company. Cowen raised Equinix from a “market perform” rating to an “outperform” rating and set a $811.00 target price for the company in a research report on Tuesday, December 13th. Finally, Citigroup raised their target price on Equinix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $779.28.

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.