Equinix, Inc. $EQIX Shares Sold by Schroder Investment Management Group

Key Points

• Schroder Investment Management trimmed its Equinix stake by 1.2% in Q3, selling 2,898 shares and leaving it with 231,628 shares (about 0.24% of the company) worth roughly $181.42 million; institutional investors now own about 94.94% of the stock.
• Significant insider selling: insiders disposed of 13,602 shares totaling $11.37 million over the last quarter — including sales by Brandi Galvin Morandi and Chairman Charles J. Meyers — while corporate insiders currently own about 0.27% of Equinix.
• Dividend raised despite a miss: Equinix increased its quarterly dividend to $5.16 (annualized $20.64, ~2.2% yield), even as it missed Q results (EPS $8.91 vs. $9.07 expected; revenue $2.42B vs. $2.46B expected).

Schroder Investment Management Group lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 231,628 shares of the financial services provider's stock after selling 2,898 shares during the period. Schroder Investment Management Group owned approximately 0.24% of Equinix worth $181,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Inceptionr LLC acquired a new stake in Equinix during the 3rd quarter worth approximately $1,035,000. Private Advisor Group LLC increased its position in shares of Equinix by 6.3% in the third quarter. Private Advisor Group LLC now owns 4,002 shares of the financial services provider's stock worth $3,134,000 after acquiring an additional 237 shares in the last quarter. PFG Advisors raised its stake in shares of Equinix by 6.1% in the 3rd quarter. PFG Advisors now owns 2,808 shares of the financial services provider's stock valued at $2,200,000 after acquiring an additional 162 shares during the period. Altman Advisors Inc. lifted its holdings in shares of Equinix by 0.9% during the 3rd quarter. Altman Advisors Inc. now owns 2,075 shares of the financial services provider's stock valued at $1,625,000 after acquiring an additional 19 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its holdings in shares of Equinix by 21.9% during the 3rd quarter. Jefferies Financial Group Inc. now owns 390 shares of the financial services provider's stock valued at $305,000 after acquiring an additional 70 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 1,333 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the sale, the insider directly owned 9,551 shares in the company, valued at $7,681,391.75. The trade was a 12.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 2,716 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $965.15, for a total value of $2,621,347.40. Following the completion of the transaction, the chairman directly owned 12,594 shares in the company, valued at approximately $12,155,099.10. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,602 shares of company stock worth $11,369,645 over the last quarter. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of EQIX stock opened at $944.91 on Tuesday. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $92.84 billion, a P/E ratio of 68.72, a P/E/G ratio of 2.41 and a beta of 1.04. The company's fifty day moving average price is $855.68 and its two-hundred day moving average price is $808.90.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts' consensus estimates of $9.07 by ($0.16). The firm had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $7.92 earnings per share. On average, research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be issued a $5.16 dividend. This is an increase from Equinix's previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Equinix's dividend payout ratio (DPR) is currently 150.11%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group increased their price target on Equinix from $950.00 to $1,010.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Wall Street Zen cut Equinix from a "hold" rating to a "sell" rating in a research note on Saturday, January 10th. Stifel Nicolaus set a $1,075.00 target price on Equinix in a research note on Thursday, February 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Equinix in a report on Thursday, January 22nd. Finally, BMO Capital Markets boosted their price target on Equinix from $925.00 to $1,050.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,006.91.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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