Vontobel Holding Ltd. Sells 1,390 Shares of Equinix, Inc. (NASDAQ:EQIX)

Vontobel Holding Ltd. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 28.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,579 shares of the financial services provider's stock after selling 1,390 shares during the period. Vontobel Holding Ltd.'s holdings in Equinix were worth $2,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EQIX. Pinney & Scofield Inc. acquired a new stake in shares of Equinix during the fourth quarter worth $28,000. Whipplewood Advisors LLC raised its position 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 buying an additional 23 shares during the period. 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 buying an additional 15 shares during the period. J.Safra Asset Management Corp acquired a new position in Equinix during the fourth quarter valued at $39,000. Finally, Park Square Financial Group LLC acquired a new position in Equinix during the fourth quarter valued at $49,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider owned 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on 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 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 sold a total of 3,176 shares of company stock worth $2,808,008 in the last 90 days. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. New Street Research raised Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Wolfe Research lowered Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Stifel Nicolaus dropped their price target on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. JPMorgan Chase & Co. dropped their price target on Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research report on Thursday, June 26th. Finally, Truist Financial dropped their price target on Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $960.55.

Equinix Stock Down 1.0%

Shares of EQIX traded down $7.65 during trading hours on Friday, hitting $787.50. 539,869 shares of the company were exchanged, compared to its average volume of 557,706. The company has a market cap of $77.03 billion, a PE ratio of 81.86, a PEG ratio of 1.13 and a beta of 0.93. The firm's 50 day moving average is $865.90 and its 200-day moving average is $874.82. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm's revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.86 EPS. On average, equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.38%. Equinix's payout ratio is 195.01%.

Equinix 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.