First National Bank of Mount Dora Trust Investment Services Sells 486 Shares of Equinix, Inc. (NASDAQ:EQIX)

First National Bank of Mount Dora Trust Investment Services lowered its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,241 shares of the financial services provider's stock after selling 486 shares during the quarter. First National Bank of Mount Dora Trust Investment Services' holdings in Equinix were worth $1,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Equinix by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after purchasing an additional 88,654 shares during the period. Geode Capital Management LLC boosted its holdings in Equinix by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after purchasing an additional 62,005 shares during the period. FMR LLC boosted its holdings in Equinix by 3.7% in the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after purchasing an additional 81,144 shares during the period. Principal Financial Group Inc. boosted its holdings in Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after purchasing an additional 44,471 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Equinix by 0.8% in 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. Institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred 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 owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 now directly owns 9,615 shares of the company's stock, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on EQIX shares. Bank of America started coverage on Equinix in a research report on Monday, May 19th. They set a "buy" rating and a $1,000.00 price target for the company. Mizuho dropped their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a report on Friday, May 23rd. New Street Research raised shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Finally, Cowen reaffirmed a "buy" rating on shares of Equinix in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $1,004.80.

Equinix Trading Down 0.4%

Shares of EQIX stock traded down $3.78 during mid-day trading on Friday, reaching $892.64. The stock had a trading volume of 502,420 shares, compared to its average volume of 526,252. The stock's 50-day moving average price is $848.81 and its two-hundred day moving average price is $889.65. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The firm has a market capitalization of $87.32 billion, a PE ratio of 104.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter in the previous year, the company earned $8.86 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is currently 195.01%.

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.