Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,552 shares of the financial services provider’s stock after selling 12,475 shares during the period. Sei Investments Co. owned 0.27% of Equinix worth $197,135,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQIX. CNB Bank raised its position in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Equinix in the first quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the second quarter valued at $30,000. Rise Advisors LLC acquired a new stake in shares of Equinix during the first quarter valued at $39,000. Finally, Meeder Asset Management Inc. acquired a new position in Equinix in the 2nd quarter valued at about $36,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EQIX has been the topic of several analyst reports. Barclays raised their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. The Goldman Sachs Group started coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 target price on the stock. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. TD Cowen increased their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the firm’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 completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 864 shares of the company’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 completion of the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,043 shares of company stock valued at $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $877.20 on Friday. The company’s fifty day simple moving average is $820.42 and its 200-day simple moving average is $793.28. 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 52 week low of $677.80 and a 52 week high of $914.93. The company has a market cap of $83.25 billion, a PE ratio of 87.98, a P/E/G ratio of 2.11 and a beta of 0.71.

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

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.94%. Equinix’s dividend payout ratio is currently 170.91%.

About Equinix

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.