Westpac Banking Corp Has $10.70 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Westpac Banking Corp reduced its stake in Equinix, Inc. by 4.9% during the first quarter, now holding 13,122 shares valued at approximately $10.7 million.
• Other institutional investors, including GAMMA Investing LLC and Nuveen LLC, have made significant changes to their holdings, with GAMMA increasing its position by 82,340.9%.
• Equinix announced a quarterly dividend of $4.69 per share, resulting in an annualized yield of 2.4%, while also showing a 4.5% year-over-year revenue increase.

Westpac Banking Corp trimmed its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,122 shares of the financial services provider's stock after selling 675 shares during the period. Equinix comprises 0.8% of Westpac Banking Corp's holdings, making the stock its 20th biggest holding. Westpac Banking Corp's holdings in Equinix were worth $10,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of EQIX. Cornerstone Planning Group LLC raised its holdings in Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 12 shares in the last quarter. Signaturefd LLC raised its holdings in Equinix by 0.8% in the first quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider's stock valued at $1,182,000 after acquiring an additional 12 shares in the last quarter. AE Wealth Management LLC raised its holdings in Equinix by 5.1% in the first quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider's stock valued at $202,000 after acquiring an additional 12 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in Equinix by 0.7% in the first quarter. Griffin Asset Management Inc. now owns 1,771 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 13 shares in the last quarter. Finally, Sava Infond d.o.o. raised its holdings in Equinix by 2.0% in the first quarter. Sava Infond d.o.o. now owns 678 shares of the financial services provider's stock valued at $553,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

NASDAQ:EQIX traded up $5.94 during mid-day trading on Friday, reaching $781.31. 544,791 shares of the stock were exchanged, compared to its average volume of 629,270. The business has a fifty day moving average price of $811.30 and a 200 day moving average price of $844.87. The firm has a market capitalization of $76.46 billion, a PE ratio of 76.52, a PEG ratio of 1.41 and a beta of 0.90. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.22% and a net margin of 11.11%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company posted $9.22 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th will be given a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's payout ratio is currently 183.74%.

Analyst Ratings Changes

A number of research firms have weighed in on EQIX. UBS Group cut their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Scotiabank cut their price objective on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 26th. Wolfe Research cut shares of Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Citigroup lifted 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. Finally, Barclays cut their target price on shares of Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and an average price target of $962.24.

Insider Buying and Selling

In other news, 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 transaction of $2,609,599.59. Following the sale, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.27% of the stock is currently owned by corporate 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.