Equinix, Inc. $EQIX Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG cut its position in Equinix, Inc. (NASDAQ:EQIX) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,257 shares of the financial services provider’s stock after selling 5,290 shares during the quarter. Raiffeisen Bank International AG owned about 0.06% of Equinix worth $42,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQIX. Westside Investment Management Inc. raised its holdings in shares of Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Equinix in the 2nd quarter valued at approximately $26,000. Bank of Jackson Hole Trust raised its stake in Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Abound Wealth Management boosted its position in Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Equinix during the 2nd quarter worth $28,000. Institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 1.1%

Shares of NASDAQ:EQIX opened at $928.11 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $91.19 billion, a price-to-earnings ratio of 67.50, a PEG ratio of 1.82 and a beta of 1.06. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $992.90. The company has a 50 day moving average price of $811.86 and a 200 day moving average price of $794.76.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. Equinix’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $7.92 EPS. On average, research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be given a $5.16 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.2%. Equinix’s dividend payout ratio is 136.44%.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 927 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the sale, the executive vice president owned 7,337 shares in the company, valued at approximately $5,882,659.86. The trade was a 11.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the sale, the chief financial officer directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,353 shares of company stock worth $11,283,043 in the last three months. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EQIX. Stifel Nicolaus set a $1,075.00 price objective on shares of Equinix in a research note on Thursday, February 12th. Morgan Stanley restated an “overweight” rating and set a $1,075.00 price target on shares of Equinix in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research note on Tuesday, January 6th. HSBC set a $1,050.00 price objective on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, UBS Group increased their price target on Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,001.41.

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.