1832 Asset Management L.P. Sells 3,272 Shares of Equinix, Inc. (NASDAQ:EQIX)

1832 Asset Management L.P. lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 15.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,809 shares of the financial services provider’s stock after selling 3,272 shares during the quarter. 1832 Asset Management L.P.’s holdings in Equinix were worth $13,474,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Equinix Price Performance

Equinix stock opened at $881.92 on Tuesday. The firm has a market capitalization of $83.70 billion, a P/E ratio of 88.46, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. 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 business has a fifty day moving average price of $821.97 and a 200-day moving average price of $791.59.

Equinix (NASDAQ:EQIX) last issued its earnings results 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 company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the business earned $8.04 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

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 yield of 1.93%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insiders Place Their Bets

In other news, 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 value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

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.