Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Motley Fool Wealth Management LLC

Key Points

• Motley Fool Wealth Management LLC reduced its stake in Equinix, Inc. by 12.3% during the first quarter, holding 39,488 shares valued at $32.2 million, making it the firm's 12th largest holding.
• Equinix's stock price opened at $776.20, with a market cap of approximately $75.96 billion, and posted a quarterly revenue of $2.26 billion, slightly above analysts' expectations.
• The company announced a quarterly dividend of $4.69 per share, resulting in an annualized dividend yield of 2.4%, with a payout ratio of 183.74%.

Motley Fool Wealth Management LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 12.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 39,488 shares of the financial services provider's stock after selling 5,522 shares during the quarter. Equinix comprises approximately 1.9% of Motley Fool Wealth Management LLC's holdings, making the stock its 12th largest holding. Motley Fool Wealth Management LLC's holdings in Equinix were worth $32,197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Brighton Jones LLC boosted its position in shares of Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 73 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Equinix during the 4th quarter valued at $2,027,000. Bessemer Group Inc. raised its holdings in Equinix by 17.5% during the 4th quarter. Bessemer Group Inc. now owns 2,916 shares of the financial services provider's stock valued at $2,750,000 after buying an additional 434 shares during the period. Scotia Capital Inc. raised its holdings in Equinix by 22.9% during the 4th quarter. Scotia Capital Inc. now owns 467 shares of the financial services provider's stock valued at $440,000 after buying an additional 87 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Equinix by 4.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 71,547 shares of the financial services provider's stock valued at $67,443,000 after buying an additional 2,896 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Down 1.1%

Equinix stock traded down $8.63 during mid-day trading on Thursday, reaching $775.37. 506,893 shares of the company were exchanged, compared to its average volume of 629,894. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The business has a fifty day moving average of $813.98 and a 200 day moving average of $845.73. The firm has a market cap of $75.88 billion, a P/E ratio of 75.94, a PEG ratio of 1.42 and a beta of 0.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.54 and a current ratio of 1.54.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $6.42. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.22 earnings per share. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be issued a $4.69 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix's payout ratio is currently 183.74%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Guggenheim assumed coverage on Equinix in a report on Thursday, July 10th. They set a "buy" rating and a $933.00 price target on the stock. TD Securities increased their price target on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Bank of America decreased their price target on Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wolfe Research lowered Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Cowen reiterated a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Equinix presently has a consensus rating of "Buy" and an average price target of $962.24.

Insider Transactions at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 owned 9,615 shares of the company's stock, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

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.