Cox Capital Mgt LLC Trims Stock Holdings in Equinix, Inc. $EQIX

Cox Capital Mgt LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 24.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,829 shares of the financial services provider’s stock after selling 898 shares during the quarter. Equinix accounts for about 1.4% of Cox Capital Mgt LLC’s holdings, making the stock its 25th biggest holding. Cox Capital Mgt LLC’s holdings in Equinix were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in EQIX. Sumitomo Mitsui Trust Group Inc. raised its position in Equinix by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after purchasing an additional 7,409 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Equinix by 25.8% during the third 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 during the period. Chilton Capital Management LLC grew its stake in shares of Equinix by 5.1% in the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock valued at $28,908,000 after buying an additional 1,805 shares in the last quarter. Foresight Group Ltd Liability Partnership grew its stake in shares of Equinix by 10.0% in the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock valued at $20,425,000 after buying an additional 2,378 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Equinix by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock valued at $376,193,000 after buying an additional 32,790 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Citigroup reiterated a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Morgan Stanley reissued an “overweight” rating and set a $1,075.00 price target on shares of Equinix in a research report on Friday, February 13th. TD Cowen reissued a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $1,015.05.

Equinix Trading Down 0.0%

EQIX opened at $963.00 on Friday. The business has a fifty day moving average price of $907.50 and a 200 day moving average price of $827.33. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90. The stock has a market capitalization of $94.62 billion, a price-to-earnings ratio of 70.04, a PEG ratio of 2.48 and a beta of 1.04.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. Equinix’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $7.92 EPS. Sell-side analysts expect 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 issued a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 2.1%. This is a positive change from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date of this dividend was Wednesday, February 25th. Equinix’s dividend payout ratio is 150.11%.

Insider Buying and Selling

In other news, CFO Keith D. Taylor sold 2,051 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.17, for a total value of $1,649,352.67. Following the sale, the chief financial officer directly owned 26,373 shares in the company, valued at approximately $21,208,375.41. This trade represents a 7.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 2,716 shares of Equinix stock in a transaction 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 sale, the chairman directly owned 12,594 shares of the company’s stock, valued at approximately $12,155,099.10. This trade represents a 17.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,842 shares of company stock valued at $14,494,840 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Equinix 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.