Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management LLC reduced its stake in Equinix, Inc. by 7.5%, now holding 17,674 shares valued at approximately $14.41 million.
• Equinix recently announced a quarterly dividend of $4.69 per share, resulting in an annualized yield of 2.4% despite a high payout ratio of 183.74%.
• Analyst ratings vary, with a consensus price target of $959.86 and 20 analysts giving a "buy" rating on the stock.

Motley Fool Asset Management LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,674 shares of the financial services provider's stock after selling 1,442 shares during the quarter. Equinix comprises about 0.8% of Motley Fool Asset Management LLC's holdings, making the stock its 27th largest position. Motley Fool Asset Management LLC's holdings in Equinix were worth $14,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Equinix by 82,340.9% during the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after purchasing an additional 889,282 shares in the last quarter. Nuveen LLC acquired a new stake in Equinix in the first quarter valued at approximately $662,663,000. Northern Trust Corp grew 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 valued at $1,399,042,000 after acquiring an additional 586,034 shares in the last quarter. JPMorgan Chase & Co. grew its position in Equinix by 22.5% in the first quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock valued at $1,296,871,000 after acquiring an additional 291,753 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Equinix by 169.7% in the first quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider's stock valued at $321,427,000 after acquiring an additional 248,075 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial set a $961.00 price objective on shares of Equinix and gave the company a "buy" rating in a research report on Thursday, August 7th. TD Securities increased their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Cowen reaffirmed a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Cfra Research downgraded shares of Equinix from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Bank of America lowered their price objective on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Five investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of "Buy" and an average price target of $959.86.

Equinix Stock Performance

EQIX stock traded up $10.57 during mid-day trading on Tuesday, reaching $787.32. The company had a trading volume of 337,865 shares, compared to its average volume of 517,187. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $77.05 billion, a P/E ratio of 77.11, a P/E/G ratio of 1.40 and a beta of 0.90. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The stock's 50-day simple moving average is $816.55 and its two-hundred day simple moving average is $846.16.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $9.22 earnings per share. Research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current 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 paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix's dividend payout ratio (DPR) is presently 183.74%.

Insiders Place Their Bets

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the firm'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 transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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 in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

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.