Vestmark Advisory Solutions Inc. Lowers Position in Equinix, Inc. $EQIX

Vestmark Advisory Solutions Inc. reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 25.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,046 shares of the financial services provider’s stock after selling 711 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Equinix were worth $1,603,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EQIX. Campbell & CO Investment Adviser LLC grew its position in Equinix by 21.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after buying an additional 67 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Equinix by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after acquiring an additional 7,409 shares in the last quarter. Chilton Capital Management LLC boosted its stake in shares of Equinix by 5.1% during the 3rd quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock worth $28,908,000 after acquiring an additional 1,805 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after acquiring an additional 588,967 shares during the period. Finally, Foresight Group Ltd Liability Partnership increased its stake in Equinix by 10.0% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock valued at $20,425,000 after purchasing an additional 2,378 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the sale, the chief financial officer directly owned 26,373 shares of the company’s stock, valued at approximately $21,208,375.41. This represents a 7.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total value of $2,115,774.46. Following the completion of the sale, the chief executive officer directly owned 12,366 shares of the company’s stock, valued at $9,040,658.94. The trade was a 18.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 14,353 shares of company stock worth $11,283,043. 0.27% of the stock is owned by company insiders.

Equinix Stock Up 0.7%

Shares of NASDAQ EQIX opened at $951.90 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $93.52 billion, a P/E ratio of 69.23, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. The firm’s 50 day moving average price is $819.42 and its 200 day moving average price is $797.44. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) 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 company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business posted $7.92 earnings per share. Equinix’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 annualized dividend and a dividend yield of 2.2%. This is an increase from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is presently 136.44%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets upped their target price on Equinix from $925.00 to $1,050.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. The Goldman Sachs Group upped their price target on shares of Equinix from $785.00 to $894.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Finally, Guggenheim increased their price target on shares of Equinix from $933.00 to $985.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,001.41.

Equinix 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.