Los Angeles Capital Management LLC Trims Position in Equinix, Inc. (NASDAQ:EQIX)

Los Angeles Capital Management LLC lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 65.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,449 shares of the financial services provider's stock after selling 25,085 shares during the quarter. Los Angeles Capital Management LLC's holdings in Equinix were worth $10,966,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pinney & Scofield Inc. bought a new stake in Equinix during the fourth quarter valued at about $28,000. Pacific Center for Financial Services grew its holdings in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 15 shares during the period. Whipplewood Advisors LLC grew its holdings in Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 23 shares during the period. Cornerstone Planning Group LLC grew its holdings in Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 12 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in Equinix during the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EQIX. Barclays cut their price target on Equinix from $837.00 to $798.00 and set an "equal weight" rating for the company in a report on Friday, July 11th. Mizuho dropped their price objective on Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a research note on Tuesday, July 1st. Cowen reiterated a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Cfra Research cut Equinix from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company cut their target price on Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $957.05.

Insider Transactions at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider directly owned 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction 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 transaction, the director owned 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is currently owned by company insiders.

Equinix Price Performance

NASDAQ:EQIX opened at $789.19 on Tuesday. The firm has a market capitalization of $77.20 billion, a price-to-earnings ratio of 82.04, a PEG ratio of 1.44 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 business has a 50 day simple moving average of $846.17 and a 200-day simple moving average of $862.19. 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 (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share 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 for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the business posted $8.86 earnings per share. The company's revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

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

Equinix 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.