Parallel Advisors LLC Lowers Stake in Equinix, Inc. (NASDAQ:EQIX)

Parallel Advisors LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 600 shares of the financial services provider’s stock after selling 71 shares during the quarter. Parallel Advisors LLC’s holdings in Equinix were worth $454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Cohen & Steers Inc. raised its position in Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after purchasing an additional 13,988 shares during the period. Principal Financial Group Inc. raised its position in Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares during the period. Price T Rowe Associates Inc. MD raised its position in Equinix by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares during the period. Finally, Wellington Management Group LLP raised its position in Equinix by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 992,401 shares of the financial services provider’s stock worth $799,270,000 after purchasing an additional 13,274 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays lifted their target price on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. TD Cowen boosted their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada decreased their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Down 1.4 %

Shares of EQIX opened at $864.33 on Wednesday. The firm’s 50-day moving average price is $815.81 and its 200-day moving average price is $792.51. The firm has a market capitalization of $82.03 billion, a price-to-earnings ratio of 86.69, a PEG ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93.

Equinix (NASDAQ:EQIX) last posted 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 return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $8.04 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s payout ratio is currently 170.91%.

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.