Harbor Investment Advisory LLC Sells 2,239 Shares of Equinix, Inc. $EQIX

Harbor Investment Advisory LLC decreased its stake in Equinix, Inc. (NASDAQ:EQIX) by 58.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,616 shares of the financial services provider’s stock after selling 2,239 shares during the period. Harbor Investment Advisory LLC’s holdings in Equinix were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Equinix by 1.2% during the 3rd 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 during the period. State Street Corp raised its holdings 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 worth $4,971,512,000 after purchasing an additional 220,981 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Equinix by 25.8% in 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 purchasing an additional 588,967 shares during the period. Principal Financial Group Inc. lifted its position 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 purchasing an additional 56,592 shares during the period. Finally, APG Asset Management US Inc. boosted its stake in shares of Equinix by 0.4% in the 3rd 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 purchasing an additional 5,109 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EQIX shares. TD Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Citigroup restated a “buy” rating on shares of Equinix in a report on Thursday, February 12th. Guggenheim upped their price target on shares of Equinix from $933.00 to $985.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. BMO Capital Markets increased their price target on Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,075.00 price objective on shares of Equinix in a research report on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,013.43.

Equinix Stock Down 1.6%

Shares of NASDAQ EQIX opened at $959.16 on Friday. 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 firm has a market cap of $94.24 billion, a PE ratio of 69.76, a P/E/G ratio of 2.47 and a beta of 1.04. The company’s fifty day simple moving average is $890.78 and its 200 day simple moving average is $820.51. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $992.90.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the firm posted $7.92 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts forecast 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 18th. Investors of record on Wednesday, February 25th were given a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is presently 150.11%.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 2,716 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the completion of the sale, the chairman owned 12,594 shares in the company, valued at $12,155,099.10. The trade was a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.17, for a total value of $1,649,352.67. Following the transaction, the chief financial officer directly owned 26,373 shares in the company, valued at $21,208,375.41. The trade was a 7.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,842 shares of company stock worth $14,494,840 in the last quarter. Company insiders own 0.27% of the company’s stock.

Equinix Company Profile

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.