Integrated Advisors Network LLC Lowers Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Integrated Advisors Network LLC lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 11.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,147 shares of the financial services provider's stock after selling 809 shares during the quarter. Integrated Advisors Network LLC's holdings in Equinix were worth $5,796,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinney & Scofield Inc. purchased a new stake in Equinix during the 4th quarter worth about $28,000. Kestra Investment Management LLC acquired a new position in shares of Equinix during the fourth quarter worth about $31,000. Pacific Center for Financial Services increased its stake in shares of Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after buying an additional 15 shares during the period. J.Safra Asset Management Corp acquired a new stake in Equinix in the fourth quarter valued at approximately $39,000. Finally, Sierra Ocean LLC acquired a new stake in Equinix in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial cut their price target on Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a research note on Friday, May 23rd. Oppenheimer upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Bank of America assumed coverage on Equinix in a research report on Monday, May 19th. They set a "buy" rating and a $1,000.00 price target on the stock. Finally, Barclays upped their target price on shares of Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and six have given a strong buy rating to the company's stock. According to MarketBeat, Equinix presently has a consensus rating of "Buy" and a consensus target price of $1,004.80.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now directly owns 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider now owns 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 disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Equinix Price Performance

Equinix stock traded up $3.81 during trading hours on Wednesday, hitting $880.62. The stock had a trading volume of 373,044 shares, compared to its average volume of 525,194. The stock has a market capitalization of $86.14 billion, a price-to-earnings ratio of 103.00, a PEG ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The stock's fifty day moving average is $828.47 and its two-hundred day moving average is $891.08.

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 (EPS) for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter in the previous year, the business posted $8.86 earnings per share. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Equinix 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.