Equinix, Inc. $EQIX Shares Sold by M&G PLC

M&G PLC decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 20.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,118 shares of the financial services provider’s stock after selling 47,349 shares during the period. M&G PLC owned approximately 0.18% of Equinix worth $181,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EQIX. Fulton Bank N.A. lifted its stake in 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 in the last quarter. Avion Wealth boosted its position in Equinix by 73.3% during the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 11 shares during the last quarter. High Net Worth Advisory Group LLC grew its stake in shares of Equinix by 5.3% during the 2nd 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 stake in shares of Equinix by 3.7% during the 2nd 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. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Equinix by 30.8% in the first quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 12 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total value of $137,947.50. Following the sale, the director directly owned 13,734 shares of the company’s stock, valued at approximately $15,156,567.72. This represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the completion of the sale, the insider owned 2,450 shares of the company’s stock, valued at $2,535,774.50. This trade represents a 11.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 968 shares of company stock worth $1,007,885 over the last quarter. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on EQIX. Guggenheim reissued a “buy” rating and issued a $1,235.00 price objective on shares of Equinix in a research report on Tuesday, October 20th. Truist Financial raised their target price on shares of Equinix from $1,215.00 to $1,220.00 and gave the company a “buy” rating in a research report on Friday, July 31st. The Goldman Sachs Group lifted their price target on shares of Equinix from $1,015.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Sanford C. Bernstein boosted their price target on shares of Equinix from $1,222.00 to $1,270.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Finally, HSBC reduced their price objective on shares of Equinix from $1,400.00 to $1,380.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,234.13.

Equinix Stock Up 4.1%

NASDAQ:EQIX opened at $1,054.50 on Tuesday. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The firm has a market capitalization of $104.05 billion, a price-to-earnings ratio of 63.33, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.59. The stock’s 50 day moving average price is $1,016.92 and its two-hundred day moving average price is $1,014.61.

Equinix (NASDAQ:EQIX) last released 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 during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm posted $9.83 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts expect that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. Equinix’s dividend payout ratio (DPR) is currently 123.96%.

Equinix Company Profile