Appleton Partners Inc. MA Sells 12,338 Shares of Equinix, Inc. (NASDAQ:EQIX)

Appleton Partners Inc. MA lessened its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 81.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,761 shares of the financial services provider's stock after selling 12,338 shares during the period. Appleton Partners Inc. MA's holdings in Equinix were worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new position in shares of Equinix in the fourth quarter valued at about $28,000. Kestra Investment Management LLC bought a new position in Equinix in the 4th quarter valued at about $31,000. Pacific Center for Financial Services lifted its position in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after acquiring an additional 15 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after acquiring an additional 23 shares during the period. Finally, J.Safra Asset Management Corp acquired a new position in shares of Equinix in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

Shares of EQIX traded up $7.10 during mid-day trading on Monday, reaching $889.98. The company had a trading volume of 632,705 shares, compared to its average volume of 530,008. The company has a market capitalization of $87.06 billion, a price-to-earnings ratio of 92.51, a P/E/G ratio of 1.15 and a beta of 0.97. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The company's 50 day simple moving average is $862.84 and its 200 day simple moving average is $884.88. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03.

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

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.11%. Equinix's dividend payout ratio is presently 195.01%.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the sale, the chief executive officer now directly owns 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director now owns 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup boosted their price target on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Stifel Nicolaus boosted their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. Wolfe Research cut shares of Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, Mizuho decreased their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix currently has a consensus rating of "Buy" and a consensus price target of $1,004.80.

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.