Amalgamated Bank Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

Amalgamated Bank trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,191 shares of the financial services provider’s stock after selling 687 shares during the quarter. Amalgamated Bank’s holdings in Equinix were worth $14,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB purchased a new stake in Equinix in the first quarter worth about $294,526,000. Principal Financial Group Inc. lifted its position in shares of 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. Vanguard Group Inc. boosted its stake in shares of Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. M&G Plc purchased a new position in Equinix during the first quarter valued at approximately $187,089,000. Finally, Quadrature Capital Ltd bought a new position in Equinix in the first quarter worth approximately $145,308,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft increased their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Barclays raised their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insider Activity at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 over the last quarter. Insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.4 %

NASDAQ EQIX opened at $860.95 on Thursday. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The company has a fifty day simple moving average of $817.51 and a two-hundred day simple moving average of $792.99. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market cap of $81.71 billion, a P/E ratio of 86.35, a P/E/G ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $8.04 earnings per share. Equinix’s revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 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.