Benjamin Edwards Inc. Reduces Position in Equinix, Inc. (NASDAQ:EQIX)

Benjamin Edwards Inc. decreased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 15.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,330 shares of the financial services provider’s stock after selling 238 shares during the quarter. Benjamin Edwards Inc.’s holdings in Equinix were worth $1,006,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ieq Capital LLC raised its holdings in shares of Equinix by 4.8% during the second quarter. Ieq Capital LLC now owns 3,667 shares of the financial services provider’s stock valued at $2,774,000 after purchasing an additional 169 shares during the last quarter. Brighton Jones LLC purchased a new stake in Equinix during the 2nd quarter valued at $202,000. Intech Investment Management LLC lifted its holdings in shares of Equinix by 340.0% during the 2nd quarter. Intech Investment Management LLC now owns 7,190 shares of the financial services provider’s stock valued at $5,440,000 after buying an additional 5,556 shares during the period. Foresight Group Ltd Liability Partnership boosted its stake in shares of Equinix by 54.3% in the 2nd quarter. Foresight Group Ltd Liability Partnership now owns 31,067 shares of the financial services provider’s stock worth $23,505,000 after buying an additional 10,934 shares during the last quarter. Finally, Kentucky Retirement Systems grew its holdings in shares of Equinix by 0.3% in the second quarter. Kentucky Retirement Systems now owns 7,152 shares of the financial services provider’s stock worth $5,411,000 after acquiring an additional 22 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 in the last quarter. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EQIX. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Barclays boosted their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Truist Financial lifted their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada reduced their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating and eleven have given 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 Trading Up 0.7 %

EQIX stock opened at $877.20 on Friday. The company has a market capitalization of $83.25 billion, a price-to-earnings ratio of 87.98, a PEG ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The business has a 50 day simple moving average of $820.42 and a two-hundred day simple moving average of $793.28.

Equinix (NASDAQ:EQIX) last posted its earnings results 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 company 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% on a year-over-year basis. During the same period in the previous year, the business posted $8.04 earnings per share. Research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current fiscal 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 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 dividend yield of 1.94%. Equinix’s dividend payout ratio is currently 170.91%.

Equinix Company 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.