Quaero Capital S.A. Reduces Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Quaero Capital S.A. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,430 shares of the financial services provider's stock after selling 445 shares during the period. Quaero Capital S.A.'s holdings in Equinix were worth $1,166,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the fourth quarter valued at $28,000. Whipplewood Advisors LLC lifted its position in Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after acquiring an additional 23 shares during the period. Pacific Center for Financial Services grew its stake in Equinix by 65.2% during the 4th 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 last quarter. J.Safra Asset Management Corp acquired a new position in shares of Equinix in the fourth quarter valued at about $39,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Equinix in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial decreased their target price on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. reduced their price target on shares of Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research report on Thursday. Bank of America decreased 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 note on Thursday. Wolfe Research lowered shares of Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Finally, JMP Securities reissued a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and six have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $977.30.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $39.58 during trading on Friday, hitting $785.11. The company had a trading volume of 2,193,059 shares, compared to its average volume of 552,007. The firm has a market capitalization of $76.80 billion, a price-to-earnings ratio of 81.61, a price-to-earnings-growth ratio of 1.07 and a beta of 0.97. The stock has a fifty day simple moving average of $867.36 and a two-hundred day simple moving average of $882.41. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

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, 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 firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the company posted $8.86 EPS. Equinix's quarterly revenue was up 4.1% compared to the same quarter last year. On average, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, May 21st. Equinix's dividend payout ratio is presently 195.01%.

Insider Buying and Selling

In other Equinix news, insider Kurt Pletcher sold 127 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This 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, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer now owns 9,615 shares in the company, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,176 shares of company stock worth $2,808,008. 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.