Kintegral Advisory LLC Lowers Holdings in Equinix, Inc. (NASDAQ:EQIX)

Kintegral Advisory LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,884 shares of the financial services provider's stock after selling 1,414 shares during the period. Kintegral Advisory LLC's holdings in Equinix were worth $2,351,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of EQIX. Vanguard Group Inc. grew its position in Equinix by 0.7% during 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 last quarter. Geode Capital Management LLC raised its holdings in Equinix by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock worth $2,269,037,000 after buying an additional 62,005 shares during the last quarter. FMR LLC lifted its stake in shares of Equinix by 3.7% in the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after buying an additional 81,144 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Equinix by 0.8% during the fourth 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 buying an additional 14,294 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after buying an additional 401,991 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQIX shares. Barclays upped their price objective on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Citigroup boosted their price target on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Wells Fargo & Company lowered their price target on Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. BMO Capital Markets downgraded Equinix from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $1,045.00 to $850.00 in a report on Thursday, June 26th. Finally, JPMorgan Chase & Co. decreased their target price on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $960.55.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Down 1.0%

EQIX opened at $787.50 on Friday. The firm's 50 day simple moving average is $866.92 and its two-hundred day simple moving average is $876.38. The company has a market capitalization of $77.03 billion, a PE ratio of 81.86, a PEG ratio of 1.14 and a beta of 0.93. 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 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the business posted $8.86 EPS. Equinix's revenue was up 4.1% on a year-over-year basis. As a group, equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Wednesday, May 21st. Equinix's payout ratio is 195.01%.

Equinix Company 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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