Equinix, Inc. (NASDAQ:EQIX) Holdings Lowered by Acadian Asset Management LLC

Acadian Asset Management LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 74.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,534 shares of the financial services provider’s stock after selling 7,540 shares during the period. Acadian Asset Management LLC’s holdings in Equinix were worth $1,915,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Private Advisor Group LLC increased its holdings in Equinix by 18.9% in the 4th quarter. Private Advisor Group LLC now owns 882 shares of the financial services provider’s stock valued at $711,000 after buying an additional 140 shares during the period. Gryphon Financial Partners LLC acquired a new stake in Equinix during the fourth quarter worth approximately $581,000. Great Lakes Advisors LLC boosted its holdings in Equinix by 43.4% in the 4th quarter. Great Lakes Advisors LLC now owns 3,173 shares of the financial services provider’s stock valued at $2,556,000 after purchasing an additional 960 shares during the period. NorthRock Partners LLC grew its holdings in Equinix by 15.0% during the 4th quarter. NorthRock Partners LLC now owns 468 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 61 shares during the period. Finally, Financial Advocates Investment Management increased its stake in shares of Equinix by 3.7% in the 4th quarter. Financial Advocates Investment Management now owns 476 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Up 0.3 %

Shares of EQIX opened at $871.54 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $82.74 billion, a price-to-earnings ratio of 87.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The business’s 50 day simple moving average is $811.47 and its 200-day simple moving average is $793.54.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the business earned $8.04 EPS. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Wall Street Analyst Weigh In

EQIX has been the topic of several analyst reports. Royal Bank of Canada cut their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. Truist Financial raised their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Finally, Barclays raised their price target on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $883.71.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by insiders.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.