Xponance Inc. Sells 545 Shares of Equinix, Inc. $EQIX

Xponance Inc. trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.7% in the third quarter, HoldingsChannel reports. The fund owned 14,274 shares of the financial services provider’s stock after selling 545 shares during the period. Xponance Inc.’s holdings in Equinix were worth $11,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EQIX. Vanguard Group Inc. lifted its stake in Equinix by 1.2% in the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock worth $10,410,575,000 after purchasing an additional 162,638 shares during the last quarter. State Street Corp increased its holdings in shares of Equinix by 3.7% in the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after buying an additional 220,981 shares during the period. JPMorgan Chase & Co. lifted its stake 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 valued at $2,252,094,000 after acquiring an additional 588,967 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Equinix by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock valued at $1,542,595,000 after acquiring an additional 56,592 shares during the period. Finally, Norges Bank bought a new position in Equinix during the 2nd quarter worth approximately $892,431,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays reissued a “positive” rating and set a $870.00 price objective on shares of Equinix in a research note on Tuesday, January 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,075.00 price objective on shares of Equinix in a research note on Friday, February 13th. Truist Financial raised their target price on Equinix from $973.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Scotiabank restated an “outperform” rating on shares of Equinix in a report on Thursday, February 12th. Finally, Stifel Nicolaus set a $1,075.00 price objective on Equinix in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,001.41.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 2,094 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.14, for a total value of $1,683,869.16. Following the sale, the chairman owned 13,253 shares in the company, valued at approximately $10,657,267.42. This represents a 13.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 1,333 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the transaction, the insider directly owned 9,551 shares of the company’s stock, valued at $7,681,391.75. This represents a 12.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,353 shares of company stock worth $11,283,043 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Equinix stock opened at $974.26 on Friday. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $992.90. The stock has a market cap of $95.72 billion, a price-to-earnings ratio of 70.86, a PEG ratio of 2.44 and a beta of 1.06. The stock’s 50 day simple moving average is $832.07 and its two-hundred day simple moving average is $800.99. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business earned $7.92 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $5.16 per share. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. Equinix’s dividend payout ratio (DPR) is presently 150.11%.

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.