Phillips Wealth Planners LLC Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Phillips Wealth Planners LLC decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 707 shares of the financial services provider’s stock after selling 18 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Equinix were worth $549,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after acquiring an additional 88,654 shares during the period. Geode Capital Management LLC increased its position in shares of Equinix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock valued at $2,269,037,000 after buying an additional 62,005 shares during the period. FMR LLC increased its position in shares of Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock valued at $2,135,606,000 after buying an additional 81,144 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider’s stock valued at $1,793,429,000 after buying an additional 14,294 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Equinix by 28.7% during the fourth 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 period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on EQIX. Scotiabank reduced their price target on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 22nd. New Street Research upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Citigroup boosted their price target on shares of Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Cfra Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Finally, Wolfe Research cut shares of Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Three 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. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and an average target price of $1,004.80.

Insider Buying and Selling

In related news, 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 value of $111,467.90. Following the sale, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is owned by insiders.

Equinix Trading Down 9.1%

NASDAQ:EQIX opened at $824.31 on Thursday. The company’s 50 day moving average price is $868.26 and its 200-day moving average price is $883.95. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The stock has a market cap of $80.63 billion, a price-to-earnings ratio of 85.69, a PEG ratio of 1.18 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, 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 firm 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 company posted $8.86 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.28%. The ex-dividend date was Wednesday, May 21st. 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.