Union Bancaire Privee UBP SA Sells 4,757 Shares of Equinix, Inc. (NASDAQ:EQIX)

Union Bancaire Privee UBP SA cut its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 93.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308 shares of the financial services provider's stock after selling 4,757 shares during the period. Union Bancaire Privee UBP SA's holdings in Equinix were worth $247,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Pinney & Scofield Inc. purchased a new position in Equinix in the fourth quarter valued at about $28,000. Kestra Investment Management LLC purchased a new position in Equinix in the fourth quarter valued at approximately $31,000. 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. Pacific Center for Financial Services increased its position in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after buying an additional 15 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in Equinix in the fourth quarter worth $39,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Price Performance

Equinix stock traded down $3.78 during mid-day trading on Friday, hitting $892.64. 502,420 shares of the company traded hands, compared to its average volume of 526,253. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The stock has a market cap of $87.32 billion, a price-to-earnings ratio of 104.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The stock has a fifty day moving average price of $851.86 and a 200-day moving average price of $889.06.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter last year, the company posted $8.86 EPS. The business's quarterly revenue was up 4.1% on a year-over-year basis. On average, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.10%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Wall Street Analyst Weigh In

EQIX has been the subject of several research reports. TD Securities increased their price target on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Barclays lifted their target price on shares of Equinix from $834.00 to $837.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Bank of America started coverage on shares of Equinix in a research note on Monday, May 19th. They set a "buy" rating and a $1,000.00 price target on the stock. Wolfe Research downgraded shares of Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Citigroup boosted their target price on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $1,004.80.

Insider Activity at Equinix

In other news, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business'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 completion of the sale, the chief executive officer now directly owns 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,176 shares of company stock valued at $2,808,008. Corporate insiders own 0.27% of the company's stock.

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.