Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly reduced its holdings in Equinix, Inc. by 68.9%, selling 1,584 shares during the first quarter and retaining just 716 shares valued at $584,000.
• Multiple hedge funds have increased their stakes in Equinix, with notable increases from Truist Financial Corp (8.2%) and Nisa Investment Advisors LLC (71.7%), indicating strong institutional interest in the company.
• A number of analysts have set new price targets for Equinix, with an average target around $962.24 and over 19 analysts giving the stock a "buy" rating.

Callan Family Office LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 68.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 716 shares of the financial services provider's stock after selling 1,584 shares during the quarter. Callan Family Office LLC's holdings in Equinix were worth $584,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Truist Financial Corp lifted its position in shares of Equinix by 8.2% during the 1st quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock worth $42,643,000 after buying an additional 3,981 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Equinix by 71.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock valued at $60,690,000 after purchasing an additional 31,073 shares during the last quarter. First United Bank & Trust purchased a new stake in Equinix in the 1st quarter valued at $451,000. Miller Howard Investments Inc. NY raised its position in Equinix by 20.1% in the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock valued at $3,150,000 after purchasing an additional 646 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in Equinix by 113.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock valued at $14,639,000 after purchasing an additional 9,534 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on EQIX. TD Securities boosted their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Dbs Bank raised shares of Equinix to a "moderate buy" rating in a research note on Wednesday, August 6th. UBS Group lowered their price target on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Cowen reaffirmed a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Equinix presently has a consensus rating of "Buy" and an average target price of $962.24.

Equinix Trading Up 0.8%

NASDAQ EQIX traded up $5.94 during mid-day trading on Friday, hitting $781.31. The company's stock had a trading volume of 545,026 shares, compared to its average volume of 507,262. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The stock's fifty day simple moving average is $808.63 and its two-hundred day simple moving average is $844.01. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $76.46 billion, a P/E ratio of 76.52, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the previous year, the company posted $9.22 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's payout ratio is presently 183.74%.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. The trade was 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. Insiders own 0.27% of the company's stock.

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.