Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 407 shares of the financial services provider’s stock after selling 26 shares during the period. Stonegate Investment Group LLC’s holdings in Equinix were worth $332,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in Equinix during the 4th quarter worth about $2,027,000. Kestra Investment Management LLC purchased a new stake in Equinix during the 4th quarter worth about $31,000. Global Retirement Partners LLC increased its holdings in Equinix by 11.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,527 shares of the financial services provider’s stock worth $1,440,000 after purchasing an additional 157 shares during the period. Finally, Private Advisor Group LLC increased its holdings in Equinix by 7.7% during the 4th quarter. Private Advisor Group LLC now owns 3,221 shares of the financial services provider’s stock worth $3,037,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 0.4%

Equinix stock opened at $882.88 on Friday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The stock has a 50 day moving average of $862.84 and a two-hundred day moving average of $885.49. 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 stock has a market capitalization of $86.36 billion, a price-to-earnings ratio of 91.78, a PEG ratio of 1.15 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the firm earned $8.86 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.12%. Equinix’s payout ratio is 195.01%.

Analyst Ratings Changes

Several equities research analysts have weighed in on EQIX shares. BNP Paribas upgraded Equinix to a “strong-buy” rating in a report on Thursday, May 1st. Cowen reiterated a “buy” rating on shares of Equinix in a report on Thursday, May 1st. Wolfe Research downgraded Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Scotiabank dropped their price objective on Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup increased their price objective on Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat, Equinix presently has a consensus rating of “Buy” and an average price target of $1,004.80.

Insiders Place Their Bets

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

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.