1832 Asset Management L.P. Sells 3,272 Shares of Equinix, Inc. (NASDAQ:EQIX)

1832 Asset Management L.P. reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 15.5% during the second quarter, Holdings Channel reports. The fund owned 17,809 shares of the financial services provider’s stock after selling 3,272 shares during the period. 1832 Asset Management L.P.’s holdings in Equinix were worth $13,474,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EQIX. Frank Rimerman Advisors LLC raised its position in Equinix by 61,400.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,845 shares of the financial services provider’s stock worth $1,396,000 after purchasing an additional 1,842 shares during the period. ProShare Advisors LLC grew its stake in shares of Equinix by 22.2% during the second quarter. ProShare Advisors LLC now owns 19,143 shares of the financial services provider’s stock valued at $14,484,000 after buying an additional 3,478 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Equinix by 3.8% in the second quarter. Profund Advisors LLC now owns 1,513 shares of the financial services provider’s stock worth $1,145,000 after buying an additional 55 shares during the period. Legacy Financial Advisors Inc. lifted its stake in shares of Equinix by 7.6% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 341 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 24 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in Equinix by 12.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 60,738 shares of the financial services provider’s stock valued at $45,954,000 after acquiring an additional 6,614 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

Equinix stock opened at $881.92 on Tuesday. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The stock’s 50 day simple moving average is $821.97 and its two-hundred day simple moving average is $791.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $83.70 billion, a price-to-earnings ratio of 88.46, a PEG ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.04 earnings per share. As a group, analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group started coverage on shares of Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Mizuho raised their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Royal Bank of Canada lowered their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Finally, Barclays increased their target price on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $883.71.

Insider Buying and Selling

In related news, 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 transaction of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. 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 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 in the last three months. 0.27% of the stock is owned by corporate insiders.

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.