Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.6% during the 1st quarter, HoldingsChannel reports. The firm owned 674 shares of the financial services provider’s stock after selling 18 shares during the quarter. Sunbelt Securities Inc.’s holdings in Equinix were worth $549,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new position in Equinix in the fourth quarter valued at about $28,000. Pacific Center for Financial Services raised its position in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares during the period. Whipplewood Advisors LLC raised its position in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 23 shares during the period. J.Safra Asset Management Corp purchased a new position in Equinix in the fourth quarter valued at about $39,000. Finally, Park Square Financial Group LLC purchased a new position in Equinix in the fourth quarter valued at about $49,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of EQIX stock opened at $785.11 on Friday. 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 business has a 50 day moving average of $867.26 and a two-hundred day moving average of $880.55. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a market cap of $76.80 billion, a P/E ratio of 81.61, a PEG ratio of 1.02 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last issued its 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 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 the consensus estimate of $2.23 billion. During the same period in the previous year, the firm posted $8.86 earnings per share. Equinix’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.39%. Equinix’s payout ratio is currently 195.01%.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several research reports. Cowen reissued a “buy” rating on shares of Equinix in a research report on Thursday, May 1st. Barclays raised their price objective on Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. Truist Financial dropped their target price on Equinix from $990.00 to $986.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Citigroup lifted their target price on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, BMO Capital Markets lowered Equinix from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $1,045.00 to $850.00 in a research report on Thursday. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $977.30.

Insider Buying and Selling at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the business’s 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 transaction, the chief executive officer now directly owns 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’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 value of $86,941.00. Following the transaction, the director now owns 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 over the last ninety days. Company 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.