Edgestream Partners L.P. Decreases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Edgestream Partners L.P. cut its position in Equinix, Inc. (NASDAQ:EQIX) by 63.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 491 shares of the financial services provider’s stock after selling 869 shares during the quarter. Edgestream Partners L.P.’s holdings in Equinix were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Equinix by 0.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after purchasing an additional 1,159 shares during the period. Pinebridge Investments L.P. bought a new position in Equinix during the 4th quarter valued at $3,724,000. Global Assets Advisory LLC bought a new position in Equinix during the 1st quarter valued at $15,187,000. Schroder Investment Management Group boosted its stake in Equinix by 0.6% during the 4th quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock valued at $194,864,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its stake in Equinix by 48.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after acquiring an additional 2,133 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $877.20 on Monday. The firm has a 50-day moving average price of $820.42 and a 200 day moving average price of $791.76. The firm has a market capitalization of $83.25 billion, a PE ratio of 87.98, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a quick ratio of 1.22, a current 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.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.04 EPS. On average, sell-side analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. Equinix’s dividend payout ratio is presently 170.91%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EQIX. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group assumed coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. TD Cowen increased their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada dropped their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Finally, Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average price target of $883.71.

Equinix 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.