Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its position in Equinix, Inc. (NASDAQ:EQIX) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,191 shares of the financial services provider’s stock after selling 84 shares during the period. Wealthfront Advisers LLC’s holdings in Equinix were worth $3,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Equinix in the fourth quarter worth $1,067,270,000. GAMMA Investing LLC lifted its holdings in shares of Equinix by 82,340.9% during the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock worth $725,957,000 after buying an additional 889,282 shares in the last quarter. Northern Trust Corp increased its position in shares of Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the period. Wellington Management Group LLP grew its position in Equinix by 28.7% in 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 acquiring an additional 401,991 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Equinix during the fourth quarter worth about $205,641,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In other Equinix 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 owned 9,615 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, insider Kurt Pletcher sold 127 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider directly owned 1,842 shares in the company, valued at approximately $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. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. BNP Paribas upgraded Equinix to a “strong-buy” rating in a research report on Thursday, May 1st. Truist Financial reduced their price target on shares of Equinix from $986.00 to $904.00 and set a “buy” rating for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lowered their target price on shares of Equinix from $975.00 to $935.00 and set an “overweight” rating on the stock in a research note on Thursday, June 26th. Mizuho dropped their target price on shares of Equinix from $1,069.00 to $900.00 and set an “outperform” rating for the company in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company cut their price objective on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating on the stock in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix has a consensus rating of “Buy” and an average target price of $957.05.

Equinix Trading Up 1.3%

Shares of EQIX stock opened at $775.57 on Friday. The stock has a fifty day moving average of $847.91 and a two-hundred day moving average of $864.45. The firm has a market capitalization of $75.87 billion, a PE ratio of 80.62, a price-to-earnings-growth ratio of 1.30 and a beta of 0.93. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.86 earnings per share. As a group, research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is currently 195.01%.

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.