Equinix, Inc. $EQIX Stock Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 13.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,541 shares of the financial services provider’s stock after selling 890 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Equinix were worth $5,605,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Elevation Wealth Partners LLC raised its stake in Equinix by 166.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 15 shares during the period. Trust Co. of Vermont acquired a new stake in Equinix during the 2nd quarter valued at $34,000. Cassaday & Co Wealth Management LLC acquired a new stake in Equinix during the 1st quarter valued at $39,000. Signature Equity Partners LLC boosted its position in Equinix by 193.3% during the third quarter. Signature Equity Partners LLC now owns 44 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 29 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position 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 purchasing an additional 12 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 198 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total value of $200,807.64. Following the sale, the insider directly owned 3,879 shares in the company, valued at approximately $3,934,004.22. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Paladin sold 307 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,535,774.50. The trade was a 11.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 968 shares of company stock valued at $1,007,885. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

Equinix stock opened at $1,068.06 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.29 and a current ratio of 1.29. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. The stock has a market capitalization of $105.39 billion, a P/E ratio of 64.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. The stock has a fifty day moving average of $1,017.79 and a 200-day moving average of $1,017.28.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share 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 business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the firm posted $9.83 earnings per share. Equinix’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts expect that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

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 issued a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 1.9%. Equinix’s dividend payout ratio is 123.96%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,211.00 price objective on shares of Equinix in a report on Thursday, October 29th. Scotiabank restated a “sector perform” rating and set a $1,208.00 target price on shares of Equinix in a research note on Thursday, July 30th. BTIG Research raised their target price on shares of Equinix from $1,210.00 to $1,240.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Rothschild & Co Redburn began coverage on shares of Equinix in a report on Monday, September 21st. They set a “buy” rating and a $1,261.00 target price for the company. Finally, BNP Paribas Exane decreased their price target on shares of Equinix from $1,222.00 to $1,219.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Two 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,234.13.

Equinix Company Profile

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.