Envestnet Asset Management Inc. Has $146.13 Million Stock Holdings in Equinix, Inc. $EQIX

Envestnet Asset Management Inc. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 183,700 shares of the financial services provider’s stock after selling 213 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Equinix were worth $146,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Activest Wealth Management raised its position in shares of Equinix by 121.4% during the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 17 shares during the period. Atticus Wealth Management LLC acquired a new stake in shares of Equinix during the second quarter worth $29,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Equinix during the first quarter worth $30,000. Saudi Central Bank acquired a new stake in shares of Equinix during the first quarter worth $31,000. Finally, Quarry LP acquired a new stake in shares of Equinix during the first quarter worth $31,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX stock opened at $816.13 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The stock’s 50-day moving average is $793.70 and its two-hundred day moving average is $815.73. The firm has a market cap of $79.87 billion, a P/E ratio of 79.93, a PEG ratio of 1.46 and a beta of 0.92.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, topping the consensus estimate of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%.The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the firm posted $9.22 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Equinix in a research report on Thursday, October 16th. They set an “overweight” rating and a $950.00 target price on the stock. Dbs Bank raised Equinix to a “moderate buy” rating in a research report on Wednesday, August 6th. Cowen reissued a “buy” rating on shares of Equinix in a research report on Thursday, July 3rd. Truist Financial upped their price target on Equinix from $904.00 to $961.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Zacks Research raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Equinix presently has an average rating of “Buy” and an average price target of $957.38.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 75 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $781.50, for a total value of $58,612.50. Following the transaction, the director directly owned 17,832 shares of the company’s stock, valued at $13,935,708. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Raouf Abdel sold 404 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $771.11, for a total value of $311,528.44. Following the completion of the transaction, the executive vice president directly owned 6,378 shares in the company, valued at approximately $4,918,139.58. The trade was a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.27% of the company’s stock.

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.