American Investment Services Inc. Has $673,000 Holdings in Equinix, Inc. (NASDAQ:EQIX)

American Investment Services Inc. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 890 shares of the financial services provider’s stock after selling 28 shares during the quarter. American Investment Services Inc.’s holdings in Equinix were worth $673,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in EQIX. CNB Bank lifted its holdings in shares of Equinix by 172.7% during 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 last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix during the second quarter valued at about $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the first quarter worth about $31,000. Meeder Asset Management Inc. bought a new stake in shares of Equinix during the 2nd quarter worth about $36,000. Finally, Rise Advisors LLC acquired a new position in shares of Equinix during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EQIX. Truist Financial boosted their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Barclays boosted their target price 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. Royal Bank of Canada lowered their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Finally, TD Cowen boosted their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insider Transactions at Equinix

In related news, CAO Simon Miller sold 569 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the firm’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 transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.7 %

EQIX stock opened at $877.20 on Monday. The company has a market cap of $83.25 billion, a price-to-earnings ratio of 87.98, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The business has a 50 day moving average price of $820.42 and a two-hundred day moving average price of $791.76.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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 company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.04 earnings per share. Analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

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

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.