Allspring Global Investments Holdings LLC Has $12.54 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Allspring Global Investments Holdings LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 67.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,344 shares of the financial services provider's stock after selling 32,382 shares during the period. Allspring Global Investments Holdings LLC's holdings in Equinix were worth $12,535,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pinney & Scofield Inc. bought a new stake in Equinix in the 4th quarter valued at $28,000. Whipplewood Advisors LLC boosted its holdings in Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 23 shares during the period. Pacific Center for Financial Services boosted its holdings in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 15 shares during the period. J.Safra Asset Management Corp bought a new stake in Equinix in the 4th quarter valued at $39,000. Finally, Park Square Financial Group LLC bought a new stake in Equinix in the 4th quarter valued at $49,000. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

Shares of Equinix stock traded down $7.65 during mid-day trading on Friday, reaching $787.50. 539,869 shares of the stock were exchanged, compared to its average volume of 557,706. The company has a market cap of $77.03 billion, a price-to-earnings ratio of 81.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.93. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The firm has a 50-day simple moving average of $865.90 and a 200 day simple moving average of $874.82. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $8.86 EPS. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is currently 195.01%.

Analysts Set New Price Targets

A number of analysts have weighed in on EQIX shares. The Goldman Sachs Group reduced their price target on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Wells Fargo & Company reduced their price target on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Scotiabank reduced their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a report on Thursday, June 26th. Finally, BNP Paribas raised shares of Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $960.55.

Insider Buying and Selling

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director owned 17,569 shares of the company's stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 in the last quarter. 0.27% of the stock is 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.