Snowden Capital Advisors LLC Sells 49 Shares of Equinix, Inc. (NASDAQ:EQIX)

Snowden Capital Advisors LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 926 shares of the financial services provider’s stock after selling 49 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Equinix were worth $873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new position in Equinix in the fourth quarter valued at approximately $1,067,270,000. Northern Trust Corp raised its stake in shares of Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock valued at $1,399,042,000 after buying an additional 586,034 shares during the period. Wellington Management Group LLP lifted its position in shares of Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after buying an additional 401,991 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Equinix during the 4th quarter worth $328,899,000. Finally, Proficio Capital Partners LLC purchased a new stake in Equinix in the 4th quarter worth about $246,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EQIX. Mizuho reduced their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research note on Friday, March 28th. BNP Paribas raised shares of Equinix to a “strong-buy” rating in a report on Thursday, May 1st. Stifel Nicolaus raised their price target on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Cfra Research raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Finally, Barclays boosted their price objective on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $1,004.65.

Equinix Price Performance

EQIX stock opened at $877.57 on Tuesday. The firm’s 50-day moving average price is $825.91 and its two-hundred day moving average price is $892.56. The stock has a market capitalization of $85.84 billion, a price-to-earnings ratio of 102.64, a PEG ratio of 1.78 and a beta of 0.97. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the firm earned $8.86 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.14%. Equinix’s dividend payout ratio (DPR) is currently 195.01%.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 3,562 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total value of $3,309,240.48. Following the sale, the chairman now directly owns 15,513 shares of the company’s stock, valued at approximately $14,412,197.52. The trade was a 18.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,927 shares of company stock valued at $6,431,559 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.