Prudent Man Advisors LLC Sells 731 Shares of Equinix, Inc. $EQIX

Prudent Man Advisors LLC trimmed its stake in Equinix, Inc. (NASDAQ:EQIXFree Report) by 29.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,742 shares of the financial services provider’s stock after selling 731 shares during the period. Prudent Man Advisors LLC’s holdings in Equinix were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of EQIX. Ameriflex Group Inc. increased its holdings in Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 26 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of Equinix in the 2nd quarter worth $26,000. Abound Wealth Management lifted 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 buying an additional 23 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Equinix during the 2nd quarter worth $28,000. Finally, Cornerstone Planning Group LLC grew its position in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after buying an additional 13 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EQIX. BMO Capital Markets lifted their price objective on Equinix from $925.00 to $1,050.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. The Goldman Sachs Group boosted 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. Sanford C. Bernstein started coverage on shares of Equinix in a research note on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,006.91.

View Our Latest Research Report on Equinix

Equinix Trading Up 1.8%

NASDAQ:EQIX opened at $973.43 on Thursday. The stock has a market capitalization of $95.64 billion, a price-to-earnings ratio of 70.79, a PEG ratio of 2.46 and a beta of 1.04. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $992.90. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. The firm has a 50 day moving average of $863.56 and a 200 day moving average of $811.24.

Equinix (NASDAQ:EQIXGet Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.46 billion. During the same period in the previous year, the company posted $7.92 earnings per share. The business’s revenue for the quarter 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 fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be issued a $5.16 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, February 25th. Equinix’s dividend payout ratio is 150.11%.

Insiders Place Their Bets

In related news, insider Jonathan Lin sold 888 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $711,980.64. Following the completion of the transaction, the insider directly owned 9,390 shares of the company’s stock, valued at $7,528,714.20. This trade represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the sale, the executive vice president owned 7,337 shares of the company’s stock, valued at $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,602 shares of company stock valued at $11,369,645. 0.27% of the stock is currently owned by corporate insiders.

Key Equinix News

Here are the key news stories impacting Equinix this week:

Equinix Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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