Equinix, Inc. (NASDAQ:EQIX) Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association reduced its stake in Equinix, Inc. by 28.6%, selling 1,252 shares to hold a total of 3,119 shares valued at approximately $2.54 million.
• Equinix reported a quarterly earnings per share (EPS) of $9.91, significantly exceeding analysts' estimates of $3.49, while revenues matched expectations at $2.26 billion.
• The company has announced a quarterly dividend of $4.69 per share, with a payout ratio of 183.74%, set to be paid on September 17th.

TIAA Trust National Association lessened its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 28.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,119 shares of the financial services provider's stock after selling 1,252 shares during the period. TIAA Trust National Association's holdings in Equinix were worth $2,543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Equinix by 28.9% in the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after purchasing an additional 73 shares during the period. Bank Pictet & Cie Europe AG bought a new stake in shares of Equinix in the 4th quarter worth approximately $2,027,000. World Investment Advisors bought a new stake in Equinix during the 4th quarter valued at $862,000. Peapack Gladstone Financial Corp raised its holdings in Equinix by 2.6% during the 4th quarter. Peapack Gladstone Financial Corp now owns 13,089 shares of the financial services provider's stock valued at $12,341,000 after acquiring an additional 334 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Equinix by 13.7% during the 4th quarter. Federated Hermes Inc. now owns 13,268 shares of the financial services provider's stock valued at $12,510,000 after acquiring an additional 1,599 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $0.55 during trading on Tuesday, hitting $778.94. The company had a trading volume of 412,909 shares, compared to its average volume of 582,532. The stock has a fifty day simple moving average of $829.50 and a two-hundred day simple moving average of $851.97. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm has a market capitalization of $76.23 billion, a price-to-earnings ratio of 76.29, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm earned $9.22 earnings per share. Equinix's quarterly revenue was up 4.5% 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix's dividend payout ratio is 183.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EQIX shares. BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $1,045.00 to $850.00 in a report on Thursday, June 26th. Cfra Research cut shares of Equinix from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 31st. Truist Financial cut their target price on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research report on Tuesday, July 1st. JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company cut their target price on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $957.27.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction 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 completion of the transaction, the director owned 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company'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 owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

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.