Envestnet Asset Management Inc. Sells 3,345 Shares of Equinix, Inc. (NASDAQ:EQIX)

Envestnet Asset Management Inc. trimmed its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,913 shares of the financial services provider's stock after selling 3,345 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Equinix worth $149,953,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Truist Financial Corp increased its holdings in shares of Equinix by 8.2% in the 1st quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock valued at $42,643,000 after purchasing an additional 3,981 shares during the period. First United Bank & Trust purchased a new position in Equinix during the first quarter valued at approximately $451,000. Miller Howard Investments Inc. NY increased its stake 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 buying an additional 646 shares during the period. Chevy Chase Trust Holdings LLC increased its stake in Equinix by 0.8% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 51,045 shares of the financial services provider's stock valued at $41,620,000 after buying an additional 413 shares during the period. Finally, CWA Asset Management Group LLC lifted its position in Equinix by 72.0% in the 1st quarter. CWA Asset Management Group LLC now owns 399 shares of the financial services provider's stock worth $325,000 after buying an additional 167 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research reports. Citigroup upped their price target on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. dropped their target price on Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday, June 26th. Barclays boosted their price target on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Finally, Cfra Research downgraded Equinix from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, June 26th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $959.24.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $5.82 during midday trading on Thursday, hitting $758.89. The company's stock had a trading volume of 750,797 shares, compared to its average volume of 561,326. 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 stock's 50 day simple moving average is $860.95 and its 200 day simple moving average is $871.97. The stock has a market capitalization of $74.23 billion, a price-to-earnings ratio of 78.89, a PEG ratio of 1.10 and a beta of 0.93. 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 for the quarter, beating the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.86 EPS. As a group, research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director owned 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock worth $2,808,008 in the last ninety days. Insiders own 0.27% of the company's stock.

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.