Janney Montgomery Scott LLC Sells 383 Shares of Equinix, Inc. (NASDAQ:EQIX)

Janney Montgomery Scott LLC reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,472 shares of the financial services provider's stock after selling 383 shares during the period. Janney Montgomery Scott LLC's holdings in Equinix were worth $6,908,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQIX. Pinney & Scofield Inc. bought a new stake in Equinix during the 4th quarter worth approximately $28,000. Kestra Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter worth approximately $31,000. Whipplewood Advisors LLC boosted its stake in shares of Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after buying an additional 23 shares during the last quarter. Pacific Center for Financial Services boosted its stake in shares of Equinix by 65.2% in the 4th 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 last quarter. Finally, J.Safra Asset Management Corp purchased a new position in shares of Equinix in the 4th quarter worth approximately $39,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EQIX shares. New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Bank of America started coverage on Equinix in a research note on Monday, May 19th. They issued a "buy" rating and a $1,000.00 target price on the stock. Scotiabank cut their target price on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 22nd. Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Finally, JMP Securities restated a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Friday, May 23rd. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat, Equinix presently has a consensus rating of "Buy" and an average price target of $1,004.80.

Insider Buying and Selling at Equinix

In other news, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were 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 of the company's stock, valued at approximately $1,616,723.40. This represents a 6.45% 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, CEO Adaire Fox-Martin sold 2,949 shares of the company'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 now directly owns 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock valued at $2,808,008 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Equinix Trading Down 0.4%

Shares of EQIX stock opened at $882.88 on Friday. The company's fifty day simple moving average is $862.84 and its two-hundred day simple moving average is $885.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The stock has a market capitalization of $86.36 billion, a price-to-earnings ratio of 91.78, a PEG ratio of 1.15 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results 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 10.48% and a return on equity of 6.96%. The business 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 firm posted $8.86 EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.12%. Equinix's payout ratio is 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.

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