Equinix, Inc. $EQIX Stock Holdings Cut by Stevens Capital Management LP

Stevens Capital Management LP trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 11.7% during the third quarter, HoldingsChannel.com reports. The fund owned 6,000 shares of the financial services provider’s stock after selling 792 shares during the period. Stevens Capital Management LP’s holdings in Equinix were worth $4,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of EQIX. Westside Investment Management Inc. grew its stake in Equinix by 190.9% in the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Equinix in the 2nd quarter valued at $26,000. Bank of Jackson Hole Trust lifted its holdings in Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. Abound Wealth Management boosted its holdings in shares of Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Equinix in the 2nd quarter worth approximately $28,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EQIX shares. Guggenheim upped their target price on shares of Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Truist Financial upped their target price on Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup reiterated a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. 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. Finally, TD Cowen restated a “buy” rating on shares of Equinix in a research 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,001.41.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $928.11 on Friday. The stock has a market cap of $91.19 billion, a P/E ratio of 67.50, a P/E/G ratio of 1.82 and a beta of 1.06. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The company has a 50 day moving average of $811.86 and a 200 day moving average of $794.76. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 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 business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the firm posted $7.92 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

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

Insider Activity

In other news, CEO Adaire Fox-Martin sold 2,894 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were 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 in the company, valued at approximately $9,040,658.94. The trade was a 18.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 2,051 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.17, for a total value of $1,649,352.67. Following the transaction, the chief financial officer directly owned 26,373 shares in the company, valued at $21,208,375.41. This trade represents a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 14,353 shares of company stock valued at $11,283,043. Insiders own 0.27% of the company’s stock.

About Equinix

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.