Northwestern Mutual Wealth Management Co. Lowers Holdings in Equinix, Inc. (NASDAQ:EQIX)

Northwestern Mutual Wealth Management Co. reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,316 shares of the financial services provider’s stock after selling 331 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Equinix were worth $1,753,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Duff & Phelps Investment Management Co. lifted its stake in shares of Equinix by 25.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after purchasing an additional 75,888 shares during the period. Cim Investment Management Inc. increased its holdings in Equinix by 73.2% in the second quarter. Cim Investment Management Inc. now owns 2,795 shares of the financial services provider’s stock valued at $2,115,000 after buying an additional 1,181 shares in the last quarter. Ninepoint Partners LP raised its position in shares of Equinix by 37.1% in the second quarter. Ninepoint Partners LP now owns 2,006 shares of the financial services provider’s stock worth $1,518,000 after acquiring an additional 543 shares during the period. Susquehanna Fundamental Investments LLC boosted its stake in shares of Equinix by 1,986.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,782 shares of the financial services provider’s stock worth $14,210,000 after acquiring an additional 17,882 shares in the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of Equinix during the 2nd quarter valued at about $1,845,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equinix news, 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 value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated 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 directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. 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 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Up 0.1 %

NASDAQ:EQIX opened at $876.88 on Friday. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average is $838.25 and its two-hundred day moving average is $792.81. The stock has a market capitalization 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.

Equinix (NASDAQ:EQIX) last announced its earnings results 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 firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $8.04 earnings per share. Research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their price objective for the company from $865.00 to $1,000.00 in a report on Friday. TD Cowen upped 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. Finally, Evercore ISI raised shares of Equinix to a “strong-buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average target price of $903.80.

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.