Marshall Wace LLP Lowers Holdings in Equinix, Inc. (NASDAQ:EQIX)

Marshall Wace LLP reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 22.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,786 shares of the financial services provider’s stock after selling 8,993 shares during the period. Marshall Wace LLP’s holdings in Equinix were worth $24,049,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EQIX. Gryphon Financial Partners LLC acquired a new position in shares of Equinix in the 4th quarter valued at $581,000. Parallel Advisors LLC boosted its holdings in Equinix by 5.0% in the fourth quarter. Parallel Advisors LLC now owns 634 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 30 shares during the last quarter. Stifel Financial Corp grew its position in Equinix by 3.2% during the fourth quarter. Stifel Financial Corp now owns 77,758 shares of the financial services provider’s stock valued at $62,663,000 after acquiring an additional 2,421 shares during the period. Roundview Capital LLC acquired a new stake in Equinix during the fourth quarter worth about $588,000. Finally, Catalytic Wealth RIA LLC acquired a new stake in Equinix during the fourth quarter worth about $341,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EQIX shares. The Goldman Sachs Group boosted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday. Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, TD Cowen raised their price objective on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Seven equities research 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 stock has an average rating of “Moderate Buy” and an average target price of $891.57.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 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. In the last 90 days, insiders have sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Down 1.2 %

Shares of EQIX opened at $878.98 on Friday. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The stock has a 50-day moving average price of $825.20 and a 200 day moving average price of $792.12. 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 company has a market capitalization of $83.42 billion, a P/E ratio of 88.80, a P/E/G ratio of 2.15 and a beta of 0.71.

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

Equinix Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s payout ratio is currently 170.91%.

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.