Analyst IMS Investment Management Services Ltd. Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Analyst IMS Investment Management Services Ltd. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 6.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 276 shares of the financial services provider’s stock after selling 20 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in Equinix were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. CENTRAL TRUST Co lifted its position in Equinix by 3.4% in the first quarter. CENTRAL TRUST Co now owns 1,998 shares of the financial services provider’s stock worth $1,629,000 after buying an additional 66 shares during the last quarter. Wendell David Associates Inc. raised its stake in shares of Equinix by 5.6% in the first quarter. Wendell David Associates Inc. now owns 4,332 shares of the financial services provider’s stock valued at $3,532,000 after acquiring an additional 231 shares during the period. Insigneo Advisory Services LLC lifted its holdings in shares of Equinix by 126.6% in the 1st quarter. Insigneo Advisory Services LLC now owns 503 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 281 shares during the last quarter. Chicago Capital LLC boosted its stake in shares of Equinix by 5.0% during the 1st quarter. Chicago Capital LLC now owns 315 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 15 shares during the period. Finally, Great Lakes Retirement Inc. boosted its stake in shares of Equinix by 8.6% during the 1st quarter. Great Lakes Retirement Inc. now owns 1,059 shares of the financial services provider’s stock worth $864,000 after purchasing an additional 84 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Down 0.2%

EQIX stock opened at $886.76 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average of $856.61 and a two-hundred day moving average of $887.14. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a market cap of $86.74 billion, a price-to-earnings ratio of 92.18, a PEG ratio of 1.16 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter 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, analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.12%. Equinix’s dividend payout ratio (DPR) is currently 195.01%.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer now directly owns 9,615 shares of the company’s stock, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now directly owns 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock valued at $2,808,008 over the last 90 days. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EQIX has been the subject of several analyst reports. Scotiabank decreased their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 22nd. Cowen restated a “buy” rating on shares of Equinix in a report on Thursday, May 1st. New Street Research raised shares of Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Bank of America began coverage on shares of Equinix in a research note on Monday, May 19th. They issued a “buy” rating and a $1,000.00 price target on the stock. Finally, Truist Financial lowered their price objective on shares of Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $1,004.80.

Equinix Company Profile

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.