Equinix, Inc. (NASDAQ:EQIX) Position Lessened by Copeland Capital Management LLC

Copeland Capital Management LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,062 shares of the financial services provider's stock after selling 548 shares during the period. Copeland Capital Management LLC's holdings in Equinix were worth $12,281,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Equinix by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after buying an additional 88,654 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Equinix by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after acquiring an additional 62,005 shares during the last quarter. FMR LLC raised its position in shares of Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after acquiring an additional 81,144 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after purchasing an additional 14,294 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after purchasing an additional 401,991 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of EQIX traded down $3.89 during mid-day trading on Monday, hitting $781.23. The company's stock had a trading volume of 196,219 shares, compared to its average volume of 548,962. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market capitalization of $76.42 billion, a price-to-earnings ratio of 81.09, a PEG ratio of 1.12 and a beta of 0.97. The firm has a 50-day moving average price of $867.26 and a 200 day moving average price of $879.89. Equinix, Inc. has a fifty-two week low of $618.00 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly 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 return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter last year, the business posted $8.86 EPS. Equinix's revenue was up 4.1% on a year-over-year basis. On average, research analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.40%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQIX. BNP Paribas upgraded Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research report on Thursday. Cowen reiterated a "buy" rating on shares of Equinix in a research note on Thursday, May 1st. Cfra Research lowered shares of Equinix from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday. Finally, Stifel Nicolaus dropped their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Equinix currently has a consensus rating of "Buy" and a consensus target price of $977.30.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of Equinix 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 transaction, the insider now directly owns 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,176 shares of company stock valued at $2,808,008. Company 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.