Benjamin Edwards Inc. Reduces Position in Equinix, Inc. (NASDAQ:EQIX)

Benjamin Edwards Inc. lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 15.2% in the 2nd quarter, Holdings Channel reports. The firm owned 1,330 shares of the financial services provider’s stock after selling 238 shares during the quarter. Benjamin Edwards Inc.’s holdings in Equinix were worth $1,006,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EQIX. CNB Bank boosted its position in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the period. LRI Investments LLC bought a new position in Equinix in the first quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix during the 2nd quarter worth $30,000. Rise Advisors LLC bought a new stake in Equinix during the 1st quarter valued at $39,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Equinix in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 0.7 %

NASDAQ:EQIX opened at $877.20 on Friday. The company has a market capitalization of $83.25 billion, a P/E ratio of 87.98, a PEG ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The firm has a fifty day simple moving average of $820.42 and a 200-day simple moving average of $793.28.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm posted $8.04 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EQIX shares. Barclays raised their price target on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Royal Bank of Canada reduced their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Mizuho increased their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. TD Cowen boosted their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Truist Financial increased their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 in the last ninety days. Insiders own 0.27% of the company’s stock.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.