Janney Montgomery Scott LLC trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,283 shares of the financial services provider’s stock after selling 215 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Equinix were worth $6,693,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of EQIX. Sequoia Financial Advisors LLC lifted its holdings in Equinix by 15.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider’s stock worth $509,000 after buying an additional 92 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Equinix by 5.3% during the 1st quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider’s stock worth $867,000 after buying an additional 59 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Equinix by 182.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider’s stock worth $195,000 after buying an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Equinix by 10.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock worth $127,000 after buying an additional 16 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Equinix by 300.0% during the 1st quarter. Covestor Ltd now owns 172 shares of the financial services provider’s stock worth $128,000 after buying an additional 129 shares during the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Equinix news, CAO Simon Miller sold 1,360 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $739.41, for a total transaction of $1,005,597.60. Following the sale, the chief accounting officer now owns 3,718 shares in the company, valued at approximately $2,749,126.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Equinix news, CAO Simon Miller sold 1,360 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $739.41, for a total transaction of $1,005,597.60. Following the sale, the chief accounting officer now owns 3,718 shares in the company, valued at approximately $2,749,126.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karl Strohmeyer sold 6,665 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $735.80, for a total value of $4,904,107.00. Following the sale, the insider now owns 16,582 shares in the company, valued at approximately $12,201,035.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,221 shares of company stock worth $13,488,866 in the last quarter. Company insiders own 0.32% of the company’s stock.
Equinix Stock Performance
Equinix (NASDAQ:EQIX – Get Free Report) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $7.00 by ($4.23). The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Equinix had a return on equity of 7.20% and a net margin of 10.84%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.16 EPS. As a group, equities analysts anticipate that Equinix, Inc. will post 26.64 EPS for the current fiscal year.
Equinix Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, May 24th were issued a $3.41 dividend. This represents a $13.64 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Tuesday, May 23rd. Equinix’s dividend payout ratio is currently 154.47%.
Analyst Ratings Changes
Several analysts have recently weighed in on EQIX shares. StockNews.com started coverage on Equinix in a report on Thursday, May 18th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $775.00 to $780.00 in a report on Monday, June 26th. Citigroup boosted their target price on Equinix from $825.00 to $830.00 in a report on Friday, May 5th. Morgan Stanley boosted their target price on Equinix from $702.00 to $714.00 and gave the company an “equal weight” rating in a report on Thursday, April 20th. Finally, Argus boosted their target price on Equinix from $720.00 to $795.00 in a report on Thursday, May 18th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy 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 $802.25.
Equinix Profile
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.
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