WASHINGTON TRUST Co Cuts Stake in Equinix, Inc. (NASDAQ:EQIX)

WASHINGTON TRUST Co lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 21,237 shares of the financial services provider's stock after selling 487 shares during the period. WASHINGTON TRUST Co's holdings in Equinix were worth $17,315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of EQIX. Vanguard Group Inc. raised its position in Equinix by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after acquiring an additional 88,654 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Equinix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock worth $2,269,037,000 after purchasing an additional 62,005 shares during the period. FMR LLC grew its stake in shares of Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after purchasing an additional 81,144 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Equinix by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock valued at $1,793,429,000 after purchasing an additional 14,294 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after purchasing an additional 401,991 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a research report on Thursday. Scotiabank lowered their target price on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research note on Thursday. Wolfe Research lowered Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Citigroup upped their price target on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Barclays increased their price target on Equinix from $834.00 to $837.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 27th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Equinix has an average rating of "Buy" and an average target price of $977.30.

Equinix Trading Up 1.3%

NASDAQ:EQIX traded up $10.36 on Monday, reaching $795.47. The company's stock had a trading volume of 1,066,851 shares, compared to its average volume of 552,376. Equinix, Inc. has a 12-month low of $618.00 and a 12-month high of $994.03. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The firm has a market cap of $77.81 billion, a price-to-earnings ratio of 82.69, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The stock has a 50 day moving average price of $867.26 and a 200 day moving average price of $879.89.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. The firm 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 company's quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $8.86 EPS. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business 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 2.36%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is 195.01%.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider directly owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% 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 worth $2,808,008. 0.27% of the stock is currently owned by insiders.

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.