Equinix, Inc. (NASDAQ:EQIX) Holdings Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,059,058 shares of the financial services provider's stock after selling 26,619 shares during the quarter. Equinix comprises 1.0% of Pictet Asset Management Holding SA's holdings, making the stock its 17th biggest position. Pictet Asset Management Holding SA owned about 1.08% of Equinix worth $863,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Truist Financial Corp boosted its position in shares of Equinix by 8.2% during 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 in the last quarter. Nisa Investment Advisors LLC boosted its position in Equinix by 71.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock worth $60,690,000 after acquiring an additional 31,073 shares during the period. First United Bank & Trust acquired a new stake in Equinix during the 1st quarter worth about $451,000. Miller Howard Investments Inc. NY boosted its position in Equinix by 20.1% during the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock worth $3,150,000 after acquiring an additional 646 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in Equinix by 113.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock worth $14,639,000 after purchasing an additional 9,534 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, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the transaction, the director owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EQIX shares. Wolfe Research cut Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Guggenheim started coverage on Equinix in a research report on Thursday, July 10th. They issued a "buy" rating and a $933.00 price target for the company. Cowen reaffirmed a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Bank of America lowered their price target on Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group lowered their price target on Equinix from $1,020.00 to $880.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $957.05.

Equinix Trading Up 0.6%

EQIX stock traded up $4.54 during midday trading on Friday, reaching $780.11. The stock had a trading volume of 56,965 shares, compared to its average volume of 562,663. The business has a fifty day simple moving average of $847.91 and a two-hundred day simple moving average of $864.45. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The firm has a market cap of $76.31 billion, a price-to-earnings ratio of 81.19, a PEG ratio of 1.30 and a beta of 0.93. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. During the same period last year, the company earned $8.86 earnings per share. The company's revenue was up 4.1% on a year-over-year basis. As a group, research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's payout ratio is 195.01%.

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.

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