Equinix, Inc. $EQIX Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 40.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,338 shares of the financial services provider’s stock after selling 27,280 shares during the quarter. Erste Asset Management GmbH’s holdings in Equinix were worth $30,904,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $915.00 price target on Equinix in a research note on Tuesday, January 6th. HSBC set a $1,050.00 target price on shares of Equinix and gave the stock a “buy” rating in a research report on Thursday, January 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,075.00 price target on shares of Equinix in a research note on Friday, February 13th. TD Cowen reiterated a “buy” rating on shares of Equinix in a report on Thursday, February 12th. Finally, Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average target price of $1,001.41.

Insider Buying and Selling

In other Equinix news, insider Michael Shane Paladin sold 327 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.36, for a total value of $263,025.72. Following the completion of the transaction, the insider owned 952 shares in the company, valued at $765,750.72. This represents a 25.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,670 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.08, for a total transaction of $2,146,893.60. Following the completion of the sale, the chief executive officer directly owned 14,857 shares of the company’s stock, valued at $11,946,216.56. This trade represents a 15.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 14,353 shares of company stock valued at $11,283,043. 0.27% of the stock is owned by insiders.

Equinix Price Performance

EQIX opened at $948.02 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $992.90. The company has a 50 day moving average of $827.75 and a two-hundred day moving average of $799.61. The company has a market cap of $93.14 billion, a P/E ratio of 68.95, a P/E/G ratio of 1.91 and a beta of 1.06.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be paid a dividend of $5.16 per share. This is a boost from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, February 25th. Equinix’s payout ratio is presently 150.11%.

About Equinix

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.