Taylor Frigon Capital Management LLC Sells 55 Shares of Equinix, Inc. (NASDAQ:EQIX)

Taylor Frigon Capital Management LLC lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 2.3% during the third quarter, Holdings Channel.com reports. The fund owned 2,315 shares of the financial services provider’s stock after selling 55 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Equinix were worth $2,055,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EQIX. CNB Bank grew its stake in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the 2nd quarter worth approximately $30,000. LRI Investments LLC bought a new stake in shares of Equinix in the 1st quarter worth approximately $31,000. Meeder Asset Management Inc. purchased a new position in shares of Equinix during the second quarter valued at approximately $36,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in shares of Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average target price of $918.40.

Insider Buying and Selling at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,043 shares of company stock worth $8,282,119. Insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.2 %

EQIX stock traded up $2.21 during midday trading on Thursday, hitting $893.37. The company’s stock had a trading volume of 60,366 shares, compared to its average volume of 524,718. The firm’s 50-day moving average is $858.53 and its 200-day moving average is $799.63. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The company has a market cap of $84.79 billion, a PE ratio of 89.38, a P/E/G ratio of 2.13 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $8.04 EPS. Equinix’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Equinix Company 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.