Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Equinix, Inc. by 10.8% in Q1, now owning 311,028 shares worth approximately $253.6 million.
• Equinix announced a quarterly dividend of $4.69 per share, with an annual yield of 2.4%, despite a high payout ratio of 183.74%.
• Truist Financial raised its price target for Equinix shares from $904 to $961, while various other analysts provided mixed ratings ranging from "buy" to "sell."

Raymond James Financial Inc. cut its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,028 shares of the financial services provider's stock after selling 37,791 shares during the period. Raymond James Financial Inc. owned 0.32% of Equinix worth $253,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp boosted its stake in shares of Equinix by 8.2% in the first quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock worth $42,643,000 after acquiring an additional 3,981 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Equinix by 71.7% during the first quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock worth $60,690,000 after buying an additional 31,073 shares in the last quarter. First United Bank & Trust purchased a new position in Equinix during the first quarter worth approximately $451,000. Miller Howard Investments Inc. NY lifted its position in 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 buying an additional 646 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in Equinix by 113.2% during the first quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock worth $14,639,000 after buying an additional 9,534 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction 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 $8,508,409.65. The trade was a 23.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EQIX shares. Truist Financial lifted their price objective on Equinix from $904.00 to $961.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Equinix from a "hold" rating to a "sell" rating in a research report on Saturday. Cowen reiterated a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Barclays reduced their price objective on Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. Finally, Cfra Research downgraded Equinix from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, Equinix presently has an average rating of "Moderate Buy" and a consensus price target of $962.24.

Equinix Trading Up 0.8%

Shares of NASDAQ EQIX opened at $781.31 on Friday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The stock has a fifty day simple moving average of $808.63 and a 200-day simple moving average of $843.56. The stock has a market capitalization of $76.46 billion, a PE ratio of 76.52, a PEG ratio of 1.41 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, beating analysts' consensus estimates of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the previous year, the firm posted $9.22 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's payout ratio is presently 183.74%.

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.

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