Equinix, Inc. (NASDAQ:EQIX) Stock Position Decreased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Equinix by 16.2% during the first quarter, owning approximately 0.83% of the company after selling 156,933 shares.
• Equinix recently reported earnings of $9.91 per share, significantly exceeding analyst estimates of $3.49, with revenues amounting to $2.26 billion for the quarter.
• The company announced a quarterly dividend of $4.69 per share, reflecting an annual yield of 2.4% while its dividend payout ratio stands at 183.74%.

Goldman Sachs Group Inc. lowered its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 811,961 shares of the financial services provider's stock after selling 156,933 shares during the period. Goldman Sachs Group Inc. owned about 0.83% of Equinix worth $662,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EQIX. Price T Rowe Associates Inc. MD boosted its position in Equinix by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock valued at $1,793,429,000 after purchasing an additional 14,294 shares during the period. Northern Trust Corp increased its position in Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after buying an additional 586,034 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Equinix by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,147,559 shares of the financial services provider's stock valued at $1,082,022,000 after acquiring an additional 65,104 shares in the last quarter. Capital Research Global Investors raised its stake in Equinix by 2.6% during the 4th quarter. Capital Research Global Investors now owns 1,098,700 shares of the financial services provider's stock valued at $1,035,953,000 after acquiring an additional 28,297 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Equinix by 1.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 902,634 shares of the financial services provider's stock worth $851,085,000 after acquiring an additional 11,557 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX stock opened at $773.00 on Thursday. The company has a market capitalization of $75.65 billion, a price-to-earnings ratio of 75.71, a P/E/G ratio of 1.26 and a beta of 0.90. Equinix, Inc. has a 1-year low of $701.41 and a 1-year 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's fifty day simple moving average is $825.39 and its 200-day simple moving average is $850.93.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share 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 analysts' expectations of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.22 EPS. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given 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 dividend payout ratio is presently 183.74%.

Analyst Ratings Changes

A number of brokerages recently issued reports on EQIX. BNP Paribas upgraded shares of Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. Citigroup increased their price objective on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wolfe Research lowered shares of Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. BMO Capital Markets downgraded Equinix from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. increased their price target on Equinix from $935.00 to $940.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $957.27.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's 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 directly owned 17,569 shares of the company's stock, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix 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 sale, the chief executive officer owned 9,615 shares of the company's stock, valued at approximately $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. 0.27% of the stock is owned by corporate insiders.

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.

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