Equinix, Inc. (REIT) (NASDAQ:EQIX) Stake Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of Equinix, Inc. (REIT) (NASDAQ:EQIX) by 15.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,550,999 shares of the financial services provider’s stock after selling 292,573 shares during the quarter. JPMorgan Chase & Co.’s holdings in Equinix were worth $1,054,044,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of EQIX. WD Rutherford LLC purchased a new position in Equinix during the 4th quarter valued at about $29,000. Ellevest Inc. grew its position in Equinix by 1,333.3% during the fourth quarter. Ellevest Inc. now owns 43 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 40 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Equinix in the 1st quarter worth approximately $31,000. Sage Private Wealth Group LLC purchased a new position in shares of Equinix during the 4th quarter valued at $36,000. Finally, Better Money Decisions LLC acquired a new position in shares of Equinix in the first quarter worth $38,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EQIX traded down $7.72 on Friday, reaching $815.27. 4,169 shares of the stock traded hands, compared to its average volume of 527,692. The firm has a market cap of $73.03 billion, a price-to-earnings ratio of 180.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.28. Equinix, Inc. has a 12 month low of $586.73 and a 12 month high of $839.77. The stock’s 50-day moving average is $724.34. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.55 and a current ratio of 1.55.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 28th. The financial services provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.03 by ($4.29). Equinix had a net margin of 6.62% and a return on equity of 5.85%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the company posted $6.21 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Equinix, Inc. will post 24.41 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 16th. Shareholders of record on Wednesday, May 19th will be issued a dividend of $2.87 per share. This represents a $11.48 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, May 18th. Equinix’s dividend payout ratio is 46.37%.

Several research analysts have weighed in on the company. Credit Suisse Group dropped their target price on Equinix from $936.00 to $932.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 28th. Wolfe Research assumed coverage on Equinix in a report on Thursday, March 18th. They issued an “outperform” rating on the stock. Raymond James lifted their target price on shares of Equinix from $835.00 to $856.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 11th. Evercore ISI started coverage on shares of Equinix in a research note on Thursday, March 11th. They set an “outperform” rating and a $820.00 price target on the stock. Finally, Cowen reduced their price objective on shares of Equinix from $864.00 to $811.00 and set an “outperform” rating for the company in a research note on Thursday, February 11th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $832.06.

In related news, CFO Keith D. Taylor sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 13th. The stock was sold at an average price of $711.35, for a total value of $711,350.00. Following the completion of the transaction, the chief financial officer now directly owns 22,083 shares in the company, valued at approximately $15,708,742.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles J. Meyers sold 5,051 shares of the stock in a transaction on Monday, June 7th. The stock was sold at an average price of $795.42, for a total transaction of $4,017,666.42. Following the sale, the chief executive officer now directly owns 8,815 shares of the company’s stock, valued at approximately $7,011,627.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,501 shares of company stock worth $13,019,508. 13.20% of the stock is owned by company insiders.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

Further Reading: Special Purpose Acquisition Company (SPAC)

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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