Natixis Advisors LLC Sells 3,692 Shares of Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Natixis Advisors LLC has reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 7.5%, selling 3,692 shares and now holding a total of 45,478 shares valued at approximately $37 million.
• Wall Street analysts have adjusted their price targets for Equinix, with Goldman Sachs lowering it to $880 while maintaining a "buy" rating, indicating mixed sentiment among investors regarding the stock's future performance.
• Equinix recently declared a quarterly dividend of $4.69 per share, with an annualized yield of 2.4%, despite a high payout ratio of 195.01%.

Natixis Advisors LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,478 shares of the financial services provider's stock after selling 3,692 shares during the quarter. Natixis Advisors LLC's holdings in Equinix were worth $37,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the 4th quarter valued at $28,000. Whipplewood Advisors LLC increased its stake in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 23 shares during the last quarter. Cornerstone Planning Group LLC raised its position 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 in the last quarter. Pacific Center for Financial Services raised its position 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 in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in Equinix during the fourth quarter worth about $49,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several recent research reports. The Goldman Sachs Group reduced their price objective on Equinix from $1,020.00 to $880.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. BMO Capital Markets downgraded shares of Equinix from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $1,045.00 to $850.00 in a research note on Thursday, June 26th. Barclays lowered their price objective on shares of Equinix from $837.00 to $798.00 and set an "equal weight" rating for the company in a report on Friday, July 11th. JPMorgan Chase & Co. increased their target price on shares of Equinix from $935.00 to $940.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Scotiabank lowered their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $957.27.

Equinix Trading Down 1.5%

NASDAQ:EQIX opened at $785.17 on Friday. The company has a 50-day moving average price of $833.04 and a 200-day moving average price of $854.59. The stock has a market cap of $76.81 billion, a price-to-earnings ratio of 76.90, a P/E/G ratio of 1.47 and a beta of 0.93. 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, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.27%. Equinix's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $9.22 earnings per share. Equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. Equinix's payout ratio is currently 195.01%.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the sale, the chief executive officer directly owned 9,615 shares of the company's stock, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares of the company's stock, valued at approximately $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. Insiders have sold 3,176 shares of company stock worth $2,808,008 over the last ninety days. 0.27% of the stock is owned by corporate insiders.

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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