Harbour Capital Advisors LLC Reduces Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Harbour Capital Advisors LLC trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,840 shares of the financial services provider’s stock after selling 120 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Equinix were worth $2,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQIX. Pinney & Scofield Inc. acquired a new stake in Equinix during the 4th quarter worth about $28,000. Pacific Center for Financial Services boosted its stake in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after buying an additional 15 shares during the last quarter. Whipplewood Advisors LLC grew its holdings in Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 23 shares during the period. J.Safra Asset Management Corp purchased a new position in Equinix during the fourth quarter valued at approximately $39,000. Finally, Park Square Financial Group LLC acquired a new position in Equinix in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Up 0.8%

Shares of Equinix stock opened at $889.98 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The stock’s 50 day simple moving average is $864.96 and its 200-day simple moving average is $884.21. The stock has a market cap of $87.06 billion, a P/E ratio of 92.51, a P/E/G ratio of 1.15 and a beta of 0.97. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $8.86 earnings per share. Analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.11%. Equinix’s payout ratio is 195.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EQIX. Stifel Nicolaus raised their price objective on shares of Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Citigroup raised their price target on shares of Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Scotiabank decreased their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 22nd. Barclays raised their target price on Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. Finally, Wolfe Research cut Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $1,004.80.

Insider Activity at Equinix

In other news, insider Kurt Pletcher sold 127 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the transaction, the director now owns 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is owned by company insiders.

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.