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

Envestnet Asset Management Inc. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 183,913 shares of the financial services provider's stock after selling 3,345 shares during the quarter. Envestnet Asset Management Inc. owned about 0.19% of Equinix worth $149,953,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Equinix by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock worth $11,941,418,000 after buying an additional 88,654 shares during the last quarter. Geode Capital Management LLC raised its stake in Equinix by 2.6% during the fourth 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 buying an additional 62,005 shares during the last quarter. FMR LLC raised its stake in Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after buying an additional 81,144 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $1,793,429,000 after buying an additional 14,294 shares during the last quarter. Finally, Wellington Management Group LLP raised 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 buying an additional 401,991 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

NASDAQ EQIX traded down $3.92 on Friday, reaching $754.97. The company had a trading volume of 271,191 shares, compared to its average volume of 561,133. The firm's 50 day moving average price is $858.89 and its 200 day moving average price is $870.72. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The stock has a market capitalization of $73.85 billion, a PE ratio of 78.48, a price-to-earnings-growth ratio of 1.10 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly 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 business had revenue of $2.23 billion during the quarter, compared to analysts' expectations 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 last year, the business posted $8.86 EPS. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.48%. Equinix's payout ratio is currently 195.01%.

Insider Activity

In other Equinix news, 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 transaction, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider owned 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Guggenheim started coverage on Equinix in a research note on Thursday. They set a "buy" rating and a $933.00 price objective for the company. TD Securities boosted their price target on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Stifel Nicolaus decreased their price target on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Citigroup boosted their price target on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. decreased their price target on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $957.38.

About Equinix

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.