Yousif Capital Management LLC Sells 907 Shares of Equinix, Inc. $EQIX

Yousif Capital Management LLC cut its position in Equinix, Inc. (NASDAQ:EQIX) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,025 shares of the financial services provider’s stock after selling 907 shares during the period. Yousif Capital Management LLC’s holdings in Equinix were worth $10,999,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. increased its holdings in shares of Equinix by 433.3% during the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 26 shares in the last quarter. Abound Wealth Management increased its holdings in shares of Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in shares of Equinix by 200.0% during the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Equinix by 40.6% during the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 13 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in shares of Equinix during the third quarter valued at about $37,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $1,017.66 on Thursday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $1,023.47. The company’s 50 day moving average is $939.19 and its 200 day moving average is $839.14. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The company has a market cap of $99.99 billion, a PE ratio of 74.01, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the company posted $7.92 EPS. Equinix’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a $5.16 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 annualized dividend and a yield of 2.0%. Equinix’s dividend payout ratio is currently 150.11%.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 305 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $961.19, for a total value of $293,162.95. Following the sale, the chairman owned 12,594 shares in the company, valued at approximately $12,105,226.86. This represents a 2.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Raouf Abdel sold 584 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the sale, the executive vice president owned 7,768 shares in the company, valued at approximately $7,501,479.92. This represents a 6.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,842 shares of company stock worth $14,494,840. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EQIX. Citigroup restated a “buy” rating on shares of Equinix in a report on Thursday, February 12th. UBS Group upped their price objective on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Sanford C. Bernstein began coverage on shares of Equinix in a report on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on shares of Equinix in a report on Tuesday, January 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $1,075.00 price target on shares of Equinix in a report on Friday, February 13th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average target price of $1,019.27.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.