Equinix, Inc. $EQIX Shares Sold by Davis R M Inc.

Davis R M Inc. lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,646 shares of the financial services provider’s stock after selling 867 shares during the period. Davis R M Inc.’s holdings in Equinix were worth $24,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Equinix by 1.2% during the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after purchasing an additional 162,638 shares in the last quarter. State Street Corp increased its stake in Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after buying an additional 220,981 shares during the period. JPMorgan Chase & Co. raised its position in shares of Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after buying an additional 588,967 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Equinix by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock worth $1,542,595,000 after acquiring an additional 56,592 shares during the period. Finally, APG Asset Management US Inc. boosted its holdings in shares of Equinix by 0.4% in the third quarter. APG Asset Management US Inc. now owns 1,211,357 shares of the financial services provider’s stock valued at $937,530,000 after acquiring an additional 5,109 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 2.8%

Shares of Equinix stock opened at $974.26 on Monday. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $992.90. The firm has a market capitalization of $95.72 billion, a PE ratio of 70.86, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. The stock’s fifty day moving average is $832.07 and its 200-day moving average is $801.20.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the business posted $7.92 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio (DPR) is 150.11%.

Analysts Set New Price Targets

Several brokerages recently commented on EQIX. Truist Financial boosted their target price on Equinix from $973.00 to $1,087.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Wells Fargo & Company boosted their price objective on Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Jefferies Financial Group raised their target price on Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 price target on shares of Equinix in a research report on Thursday, February 12th. Finally, Scotiabank restated an “outperform” rating on shares of Equinix in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average price target of $1,001.41.

Insider Activity

In other news, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the transaction, the executive vice president owned 7,337 shares in the company, valued at approximately $5,882,659.86. The trade was a 11.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total value of $2,115,774.46. Following the transaction, the chief executive officer directly owned 12,366 shares in the company, valued at $9,040,658.94. The trade was a 18.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 14,353 shares of company stock worth $11,283,043. 0.27% of the stock is owned by corporate insiders.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.