Massmutual Trust Co. FSB ADV Sells 129 Shares of Equinix, Inc. (NASDAQ:EQIX)

Massmutual Trust Co. FSB ADV lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 894 shares of the financial services provider’s stock after selling 129 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Equinix were worth $794,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Appleton Partners Inc. MA lifted its holdings in Equinix by 0.8% during the 3rd quarter. Appleton Partners Inc. MA now owns 15,456 shares of the financial services provider’s stock worth $13,719,000 after buying an additional 121 shares during the period. Mattson Financial Services LLC bought a new position in shares of Equinix during the second quarter worth about $1,195,000. Cavalry Management Group LLC acquired a new position in shares of Equinix in the second quarter worth approximately $199,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Equinix by 14.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,121 shares of the financial services provider’s stock valued at $3,875,000 after acquiring an additional 655 shares during the last quarter. Finally, Heritage Wealth Management Inc. acquired a new stake in Equinix during the 2nd quarter valued at approximately $547,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $876.88 on Friday. The firm has a market cap of $83.22 billion, a price-to-earnings ratio of 87.95, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. The stock has a fifty day simple moving average of $838.25 and a two-hundred day simple moving average of $793.17. 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 announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $8.04 EPS. Analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred 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 directly owns 9,094 shares in the company, valued at $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and upped their target price for the company from $865.00 to $1,000.00 in a research report on Friday. The Goldman Sachs Group boosted their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $903.80.

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.