PFG Investments LLC Sells 929 Shares of Equinix, Inc. $EQIX

PFG Investments LLC reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 72.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 345 shares of the financial services provider’s stock after selling 929 shares during the period. PFG Investments LLC’s holdings in Equinix were worth $265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. grew its position in shares of Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 26 shares during the period. Princeton Global Asset Management LLC grew its position in shares of Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 28 shares during the period. Salomon & Ludwin LLC bought a new position in shares of Equinix during the 3rd quarter valued at approximately $37,000. Cornerstone Planning Group LLC grew its position in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 13 shares during the period. Finally, Westside Investment Management Inc. grew its position in shares of Equinix by 65.6% during the 3rd quarter. Westside Investment Management Inc. now owns 53 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 21 shares during the period. 94.94% of the stock is owned by institutional investors.

Equinix Stock Down 0.9%

Shares of NASDAQ:EQIX opened at $1,094.34 on Wednesday. The firm has a fifty day moving average price of $982.30 and a two-hundred day moving average price of $857.25. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. Equinix, Inc. has a one year low of $710.52 and a one year high of $1,108.19. The company has a market cap of $107.93 billion, a price-to-earnings ratio of 79.59, a PEG ratio of 2.81 and a beta of 1.01.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the business earned $7.92 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts anticipate that Equinix, Inc. will post 37.72 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were issued a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. Equinix’s payout ratio is 150.11%.

Analysts Set New Price Targets

Several research analysts recently commented on EQIX shares. Wells Fargo & Company raised their price objective on shares of Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus set a $1,075.00 price objective on shares of Equinix in a report on Thursday, February 12th. Cantor Fitzgerald started coverage on shares of Equinix in a report on Thursday, April 9th. They issued an “overweight” rating and a $1,173.00 price objective for the company. HSBC set a $1,050.00 price objective on shares of Equinix and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equinix in a report on Thursday, January 22nd. Five analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,056.35.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 1,086 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $966.20, for a total value of $1,049,293.20. Following the completion of the transaction, the chief executive officer directly owned 19,574 shares of the company’s stock, valued at $18,912,398.80. This trade represents a 5.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Lin sold 635 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $965.71, for a total transaction of $613,225.85. Following the completion of the transaction, the insider directly owned 10,788 shares of the company’s stock, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 6,380 shares of company stock worth $6,179,022. 0.27% of the stock is owned by corporate insiders.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.