Allspring Global Investments Holdings LLC Sells 12,312 Shares of Equinix, Inc. (NASDAQ:EQIX)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 22.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,370 shares of the financial services provider’s stock after selling 12,312 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Equinix were worth $31,301,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EQIX. CNB Bank lifted its holdings in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the 2nd quarter valued at approximately $30,000. LRI Investments LLC bought a new stake in Equinix in the 1st quarter valued at approximately $31,000. Rise Advisors LLC bought a new stake in Equinix in the 1st quarter valued at approximately $39,000. Finally, Rational Advisors LLC bought a new stake in Equinix in the 1st quarter valued at approximately $53,000. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on EQIX shares. Mizuho started coverage on Equinix in a research note on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price on the stock. TD Cowen upped their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada dropped their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $876.71.

Equinix Stock Performance

NASDAQ:EQIX opened at $817.98 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $77.63 billion, a price-to-earnings ratio of 82.04, a PEG ratio of 2.80 and a beta of 0.68. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The stock has a fifty day moving average price of $788.81 and a 200-day moving average price of $795.39.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 11.32% and a return on equity of 7.73%. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.04 earnings per share. As a group, equities analysts anticipate that Equinix, Inc. will post 31.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.08%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

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.