Brighton Jones LLC Sells 14 Shares of Equinix, Inc. (NASDAQ:EQIX)

Brighton Jones LLC lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 253 shares of the financial services provider’s stock after selling 14 shares during the period. Brighton Jones LLC’s holdings in Equinix were worth $224,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after purchasing an additional 19,844 shares during the period. Finally, Centersquare Investment Management LLC raised its position in Equinix by 13.5% during the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock worth $778,332,000 after purchasing an additional 112,194 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of analyst reports. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Wells Fargo & Company increased their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Mizuho lifted 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. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $918.40.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $914.33 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market cap of $86.81 billion, a PE ratio of 83.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The stock’s fifty day simple moving average is $861.56 and its two-hundred day simple moving average is $801.17. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02.

Equinix (NASDAQ:EQIX) last announced 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). 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 analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $8.04 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts forecast that Equinix, Inc. will post 31.01 EPS 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 paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.86%. Equinix’s payout ratio is presently 156.04%.

Insiders Place Their Bets

In other Equinix news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 10,043 shares of company stock valued at $8,282,119. Insiders own 0.27% of the company’s stock.

Equinix Company 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.