JPMorgan Chase & Co. Reduces Position in Equinix, Inc. (REIT) (NASDAQ:EQIX)

JPMorgan Chase & Co. trimmed its position in Equinix, Inc. (REIT) (NASDAQ:EQIX) by 15.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,550,999 shares of the financial services provider’s stock after selling 292,573 shares during the period. JPMorgan Chase & Co.’s holdings in Equinix were worth $1,054,044,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EQIX. Uniplan Investment Counsel Inc. grew its position in shares of Equinix by 4.2% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 108,023 shares of the financial services provider’s stock worth $77,148,000 after buying an additional 4,349 shares during the last quarter. Securian Asset Management Inc grew its holdings in shares of Equinix by 29.4% during the 1st quarter. Securian Asset Management Inc now owns 90,071 shares of the financial services provider’s stock worth $61,211,000 after acquiring an additional 20,445 shares during the period. Claudia M.P. Batlle CRP R LLC lifted its stake in shares of Equinix by 14.3% in the 4th quarter. Claudia M.P. Batlle CRP R LLC now owns 4,684 shares of the financial services provider’s stock valued at $3,345,000 after purchasing an additional 585 shares during the period. Carderock Capital Management Inc. purchased a new stake in Equinix in the fourth quarter worth $1,421,000. Finally, Quaero Capital S.A. lifted its position in Equinix by 6.7% during the first quarter. Quaero Capital S.A. now owns 2,720 shares of the financial services provider’s stock valued at $1,848,000 after buying an additional 170 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Equinix stock traded down $7.72 during mid-day trading on Friday, reaching $815.27. 4,169 shares of the company’s stock traded hands, compared to its average volume of 527,692. Equinix, Inc. has a 12-month low of $586.73 and a 12-month high of $839.77. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.55 and a current ratio of 1.55. The firm’s 50 day moving average price is $724.34. The stock has a market capitalization of $73.03 billion, a P/E ratio of 180.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.28.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 28th. The financial services provider reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $6.03 by ($4.29). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Equinix had a return on equity of 5.85% and a net margin of 6.62%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $6.21 earnings per share. As a group, sell-side analysts forecast that Equinix, Inc. will post 24.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 16th. Investors of record on Wednesday, May 19th will be given a $2.87 dividend. The ex-dividend date of this dividend is Tuesday, May 18th. This represents a $11.48 dividend on an annualized basis and a yield of 1.41%. Equinix’s dividend payout ratio is presently 46.37%.

Several analysts recently weighed in on the company. Citigroup cut their price target on Equinix from $883.00 to $849.00 and set a “buy” rating on the stock in a research note on Friday, February 12th. Wolfe Research assumed coverage on shares of Equinix in a research report on Thursday, March 18th. They set an “outperform” rating for the company. TheStreet upgraded Equinix from a “c+” rating to a “b-” rating in a research note on Wednesday, April 28th. Evercore ISI assumed coverage on shares of Equinix in a research note on Thursday, March 11th. They set an “outperform” rating and a $820.00 target price on the stock. Finally, Credit Suisse Group decreased their price objective on shares of Equinix from $936.00 to $932.00 and set an “outperform” rating for the company in a report on Wednesday, April 28th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Equinix has a consensus rating of “Buy” and a consensus target price of $832.06.

In other news, Director Christopher B. Paisley sold 200 shares of the stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $714.96, for a total value of $142,992.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sara Baack sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $750.00, for a total value of $187,500.00. Following the sale, the insider now directly owns 13,517 shares of the company’s stock, valued at $10,137,750. The disclosure for this sale can be found here. Insiders have sold 16,501 shares of company stock worth $13,019,508 in the last quarter. Company insiders own 13.20% of the company’s stock.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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