Childress Capital Advisors LLC Sells 18 Shares of Equinix, Inc. (NASDAQ:EQIX)

Childress Capital Advisors LLC trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 280 shares of the financial services provider’s stock after selling 18 shares during the quarter. Childress Capital Advisors LLC’s holdings in Equinix were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Rothschild Investment LLC increased its stake in Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 11 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 12 shares during the last quarter. First Financial Bankshares Inc increased its stake in Equinix by 0.5% in the fourth quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider’s stock valued at $2,329,000 after acquiring an additional 13 shares during the last quarter. Finally, Nemes Rush Group LLC increased its stake in Equinix by 18.3% in the fourth quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 13 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer now owns 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,176 shares of company stock worth $2,808,008. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EQIX. Barclays boosted their target price on shares of Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 27th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Friday, May 23rd. Truist Financial decreased their target price on shares of Equinix from $990.00 to $986.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Wolfe Research cut shares of Equinix from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Finally, TD Securities boosted their target price on shares of Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $1,004.80.

Equinix Stock Performance

Shares of EQIX opened at $882.88 on Monday. 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 P/E ratio of 91.78, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. The firm’s fifty day simple moving average is $862.84 and its two-hundred day simple moving average is $884.88. 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 results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the firm posted $8.86 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

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

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.