Wesbanco Bank Inc. Has $279,000 Holdings in Equinix, Inc. (NASDAQ:EQIX)

Wesbanco Bank Inc. trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 16.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 314 shares of the financial services provider’s stock after selling 63 shares during the period. Wesbanco Bank Inc.’s holdings in Equinix were worth $279,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. CNB Bank grew its stake in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the period. LRI Investments LLC acquired a new stake in Equinix during the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the second quarter valued at approximately $30,000. Sugarloaf Wealth Management LLC boosted its holdings in shares of Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares during the period. Finally, Rise Advisors LLC bought a new stake in shares of Equinix during the first quarter worth $39,000. 94.94% of the stock is owned by institutional investors.

Equinix Trading Up 0.2 %

Shares of NASDAQ:EQIX opened at $880.20 on Thursday. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The business has a 50 day moving average of $852.23 and a 200-day moving average of $796.23. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market cap of $83.54 billion, a PE ratio of 88.28, a P/E/G ratio of 2.13 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 (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm earned $8.04 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on EQIX. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. TD Cowen upped their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Mizuho boosted their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $907.21.

Insiders Place Their Bets

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 in the last quarter. Corporate 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.