Raymond James & Associates Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Raymond James & Associates trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.5% in the third quarter, HoldingsChannel.com reports. The fund owned 163,379 shares of the financial services provider’s stock after selling 9,525 shares during the period. Raymond James & Associates’ holdings in Equinix were worth $145,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cypress Capital Group boosted its stake in Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after buying an additional 13 shares during the period. MRA Advisory Group lifted its stake in Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares during the last quarter. Banco Santander S.A. lifted its stake in Equinix by 2.0% during the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares during the last quarter. Abbrea Capital LLC lifted its stake in Equinix by 5.5% during the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 14 shares during the last quarter. Finally, Grove Bank & Trust lifted its stake in Equinix by 8.1% during the third quarter. Grove Bank & Trust now owns 186 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft lifted their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Five 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $914.36.

Insider Transactions at Equinix

In related news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction 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 sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,043 shares of company stock valued at $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.7 %

Shares of NASDAQ:EQIX opened at $895.20 on Friday. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a market cap of $84.96 billion, a PE ratio of 89.79, a P/E/G ratio of 2.13 and a beta of 0.71. 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 stock’s 50-day moving average is $855.35 and its 200 day moving average is $797.57.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $8.04 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

About Equinix

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.