Equinix, Inc. $EQIX Stock Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,492 shares of the financial services provider’s stock after selling 628 shares during the period. Trillium Asset Management LLC’s holdings in Equinix were worth $17,697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Fulton Bank N.A. lifted its holdings in shares of Equinix by 3.1% in the 2nd quarter. Fulton Bank N.A. now owns 328 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 10 shares during the last quarter. High Net Worth Advisory Group LLC grew its position in Equinix by 5.3% in the second quarter. High Net Worth Advisory Group LLC now owns 219 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 11 shares in the last quarter. Angeles Wealth Management LLC grew its position in Equinix by 3.7% in the second quarter. Angeles Wealth Management LLC now owns 310 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 11 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in Equinix by 30.8% during the first quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 12 shares during the last quarter. Finally, Front Row Advisors LLC increased its stake in Equinix by 0.4% during the first quarter. Front Row Advisors LLC now owns 3,317 shares of the financial services provider’s stock worth $3,251,000 after acquiring an additional 12 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Equinix

In related news, insider Kurt Pletcher sold 198 shares of Equinix stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total transaction of $200,807.64. Following the completion of the sale, the insider owned 3,879 shares in the company, valued at $3,934,004.22. This trade represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the completion of the sale, the director directly owned 13,734 shares of the company’s stock, valued at approximately $15,156,567.72. This trade represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 968 shares of company stock worth $1,007,885. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the topic of a number of recent research reports. Deutsche Bank restated a “buy” rating on shares of Equinix in a research report on Friday, October 30th. Raymond James Financial reiterated a “strong-buy” rating and issued a $1,250.00 target price on shares of Equinix in a report on Thursday, October 29th. Scotiabank reissued a “sector perform” rating and set a $1,208.00 target price on shares of Equinix in a research report on Thursday, July 30th. Guggenheim reissued a “buy” rating and set a $1,235.00 target price on shares of Equinix in a research report on Tuesday, October 20th. Finally, Mizuho set a $1,275.00 price target on Equinix in a report on Thursday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,234.13.

Equinix Trading Down 1.8%

Shares of EQIX stock traded down $18.98 on Friday, reaching $1,053.79. 445,928 shares of the company’s stock were exchanged, compared to its average volume of 723,856. The company’s fifty day simple moving average is $1,019.12 and its 200 day simple moving average is $1,019.84. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $103.98 billion, a PE ratio of 63.29, a P/E/G ratio of 1.50 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, beating the consensus estimate of $4.11 by $0.82. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company posted $9.83 EPS. Equinix’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts forecast that Equinix, Inc. will post 39.01 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Equinix’s payout ratio is currently 123.96%.

About Equinix

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.