Gabelli Funds LLC Sells 300 Shares of Equinix, Inc. (NASDAQ:EQIX)

Gabelli Funds LLC decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,300 shares of the financial services provider’s stock after selling 300 shares during the period. Gabelli Funds LLC’s holdings in Equinix were worth $6,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in shares of Equinix by 0.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after acquiring an additional 1,159 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in Equinix during the fourth quarter valued at $3,724,000. Global Assets Advisory LLC purchased a new stake in shares of Equinix in the 1st quarter worth about $15,187,000. Schroder Investment Management Group increased its stake in shares of Equinix by 0.6% in the 4th quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after acquiring an additional 1,547 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in Equinix by 48.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after acquiring an additional 2,133 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $887.58 on Wednesday. The stock has a market capitalization of $84.24 billion, a price-to-earnings ratio of 89.03, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The business’s fifty day moving average price is $823.47 and its 200-day moving average price is $791.43.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion during 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 firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $8.04 EPS. On average, equities analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.92%. Equinix’s dividend payout ratio (DPR) is 170.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EQIX shares. Royal Bank of Canada cut their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. The Goldman Sachs Group initiated coverage on Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price target on the stock. Mizuho raised their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Barclays boosted their target price on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Finally, TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,043 shares of company stock valued at $8,282,119. 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.