Equinix, Inc. $EQIX Stock Holdings Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 591,393 shares of the financial services provider’s stock after selling 30,644 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.60% of Equinix worth $463,203,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after buying an additional 54 shares during the period. Empowered Funds LLC lifted its stake in Equinix by 21.8% in the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 546 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in Equinix in the 2nd quarter worth about $208,000. Finally, HB Wealth Management LLC boosted its position in Equinix by 13.0% during the 2nd quarter. HB Wealth Management LLC now owns 2,250 shares of the financial services provider’s stock worth $1,790,000 after acquiring an additional 259 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Equinix

In other Equinix news, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the sale, the chief financial officer owned 26,373 shares of the company’s stock, valued at $21,208,375.41. This represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 2,094 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.14, for a total value of $1,683,869.16. Following the transaction, the chairman owned 13,253 shares in the company, valued at approximately $10,657,267.42. This trade represents a 13.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,590 shares of company stock worth $15,366,046 in the last 90 days. Insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.8%

Equinix stock opened at $816.15 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $953.41. The firm’s fifty day simple moving average is $767.05 and its 200-day simple moving average is $783.97. The company has a market capitalization of $80.14 billion, a P/E ratio of 74.74, a P/E/G ratio of 1.27 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the company posted $9.05 earnings per share. Equinix’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EQIX shares. The Goldman Sachs Group lowered shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target for the company. in a research report on Thursday, December 18th. BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price for the company in a research report on Wednesday, December 3rd. Scotiabank decreased their target price on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research note on Tuesday, January 6th. Finally, Citigroup reissued a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $959.64.

Equinix 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.