Equinix, Inc. $EQIX Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,800 shares of the financial services provider’s stock after selling 4,225 shares during the period. Ceredex Value Advisors LLC’s holdings in Equinix were worth $22,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. lifted its stake in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 26 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Equinix during the 2nd quarter valued at approximately $26,000. Abound Wealth Management increased its holdings 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 purchasing an additional 23 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Equinix during the 2nd quarter worth approximately $28,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Equinix in the 3rd quarter valued at approximately $37,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 2,716 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total value of $2,621,347.40. Following the sale, the chairman directly owned 12,594 shares in the company, valued at approximately $12,155,099.10. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 1,333 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the transaction, the insider directly owned 9,551 shares of the company’s stock, valued at approximately $7,681,391.75. This trade represents a 12.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,602 shares of company stock worth $11,369,645. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQIX. Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research report on Tuesday, January 6th. Jefferies Financial Group upped their price target on shares of Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 target price on shares of Equinix in a research note on Thursday, February 12th. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,075.00 price objective on shares of Equinix in a report on Friday, February 13th. Three 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 stock. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average target price of $1,006.91.

Equinix Trading Up 0.8%

Equinix stock opened at $944.91 on Tuesday. The firm’s 50-day moving average is $855.68 and its 200-day moving average is $808.90. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90. The company has a market cap of $92.84 billion, a P/E ratio of 68.72, a PEG ratio of 2.41 and a beta of 1.04.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company earned $7.92 EPS. Equinix’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current 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 issued a $5.16 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 annualized dividend and a dividend yield of 2.2%. Equinix’s dividend payout ratio (DPR) is 150.11%.

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.