Harbor Investment Advisory LLC Has $1.24 Million Stock Position in Equinix, Inc. $EQIX

Harbor Investment Advisory LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 58.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,616 shares of the financial services provider’s stock after selling 2,239 shares during the period. Harbor Investment Advisory LLC’s holdings in Equinix were worth $1,238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Equinix in the 2nd quarter valued at about $892,431,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock worth $929,312,000 after purchasing an additional 953,001 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. State Street Corp raised its stake 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 purchasing an additional 220,981 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Equinix by 1.2% in the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after purchasing an additional 162,638 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Sanford C. Bernstein started coverage on Equinix in a research report on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 target price on the stock. Barclays increased their price target on Equinix from $870.00 to $1,020.00 and gave the company an “equal weight” rating in a research report on Wednesday. TD Cowen restated a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $950.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $1,075.00 target price on shares of Equinix in a report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,013.43.

Insider Buying and Selling at Equinix

In other news, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.71, for a total value of $613,225.85. Following the completion of the transaction, the insider owned 10,788 shares in the company, valued at $10,418,079.48. This trade represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raouf Abdel sold 584 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the sale, the executive vice president directly owned 7,768 shares in the company, valued at approximately $7,501,479.92. This trade represents a 6.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,842 shares of company stock valued at $14,494,840. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $959.16 on Friday. 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 stock has a fifty day simple moving average of $890.78 and a two-hundred day simple moving average of $820.51. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $992.90. The firm has a market cap of $94.24 billion, a price-to-earnings ratio of 69.76, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04.

Equinix (NASDAQ:EQIX) last issued 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 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 the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm earned $7.92 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. 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 was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were paid a $5.16 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a yield of 2.2%. This is an increase from Equinix’s previous quarterly dividend of $4.69. 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.