Envestnet Asset Management Inc. Has $149.95 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Envestnet Asset Management Inc. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 183,913 shares of the financial services provider's stock after selling 3,345 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Equinix worth $149,953,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Truist Financial Corp grew its holdings in shares of Equinix by 8.2% during the first quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock worth $42,643,000 after purchasing an additional 3,981 shares during the last quarter. First United Bank & Trust bought a new stake in shares of Equinix during the first quarter worth $451,000. Miller Howard Investments Inc. NY grew its holdings in shares of Equinix by 20.1% during the first quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock worth $3,150,000 after purchasing an additional 646 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of Equinix by 0.8% during the first quarter. Chevy Chase Trust Holdings LLC now owns 51,045 shares of the financial services provider's stock worth $41,620,000 after purchasing an additional 413 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of Equinix by 72.0% during the first quarter. CWA Asset Management Group LLC now owns 399 shares of the financial services provider's stock worth $325,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

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 transaction, the insider directly owned 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the firm'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 completion of the sale, the director directly owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQIX. JPMorgan Chase & Co. cut their price target on Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Truist Financial cut their target price on Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a research note on Tuesday, July 1st. Stifel Nicolaus cut their target price on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Guggenheim began coverage on Equinix in a research report on Thursday. They set a "buy" rating and a $933.00 price target on the stock. Finally, Cfra Research lowered Equinix from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has a consensus rating of "Buy" and an average target price of $957.05.

Equinix Stock Down 0.3%

EQIX stock traded down $2.19 during mid-day trading on Friday, reaching $756.70. The company had a trading volume of 587,378 shares, compared to its average volume of 562,781. 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 50 day simple moving average of $856.50 and a two-hundred day simple moving average of $869.39. The company has a market capitalization of $74.02 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 1.28 and a beta of 0.93. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts' consensus estimates 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 business's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $8.86 earnings per share. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared 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 yield of 2.48%. Equinix's dividend payout ratio is 195.01%.

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.