Kayne Anderson Rudnick Investment Management LLC Has $1.24 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Kayne Anderson Rudnick Investment Management LLC lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,643 shares of the financial services provider’s stock after selling 38 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Equinix were worth $1,243,000 as of its most recent filing with the SEC.

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

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction dated 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 directly owns 9,094 shares in the company, valued at $7,729,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The disclosure for this sale can be found here. In the last three months, insiders sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EQIX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on 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 report on Monday, July 1st. They set a “buy” rating and a $870.00 target price on the stock. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Barclays boosted their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Finally, Mizuho raised their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

Equinix Stock Up 0.5 %

EQIX opened at $881.92 on Tuesday. The stock has a fifty day moving average of $821.97 and a 200-day moving average of $791.59. The company has a market capitalization of $83.70 billion, a P/E ratio of 88.46, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data 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). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm earned $8.04 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts expect that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.93%. Equinix’s payout ratio is 170.91%.

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.