Equinix, Inc. (NASDAQ:EQIX) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,048 shares of the financial services provider’s stock after selling 768 shares during the period. SVB Wealth LLC’s holdings in Equinix were worth $10,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its position in shares of Equinix by 660.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 76 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 66 shares during the period. Savant Capital LLC lifted its position in shares of Equinix by 7.3% during the 2nd quarter. Savant Capital LLC now owns 926 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 63 shares during the period. Sustainable Insight Capital Management LLC lifted its position in shares of Equinix by 53.3% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 400 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 139 shares during the period. Private Advisor Group LLC lifted its position in shares of Equinix by 134.0% during the 2nd quarter. Private Advisor Group LLC now owns 2,179 shares of the financial services provider’s stock valued at $1,649,000 after acquiring an additional 1,248 shares during the period. Finally, New York Life Investment Management LLC lifted its position in shares of Equinix by 3.8% during the 2nd quarter. New York Life Investment Management LLC now owns 22,808 shares of the financial services provider’s stock valued at $17,257,000 after acquiring an additional 832 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last three months, insiders sold 7,472 shares of company stock valued at $6,154,812. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.5 %

Shares of NASDAQ EQIX traded down $3.78 during trading on Friday, hitting $817.96. 457,770 shares of the company traded hands, compared to its average volume of 549,600. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a 50-day moving average price of $800.75 and a 200-day moving average price of $794.48. The firm has a market capitalization of $77.63 billion, a P/E ratio of 82.04, a P/E/G ratio of 2.03 and a beta of 0.68. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm earned $8.04 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that Equinix, Inc. will post 31.04 EPS for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.08%. Equinix’s dividend payout ratio (DPR) is 170.91%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. TD Cowen lifted their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Mizuho assumed coverage on Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $876.71.

Equinix 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.