NorthRock Partners LLC Cuts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

NorthRock Partners LLC cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 17.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 389 shares of the financial services provider’s stock after selling 83 shares during the quarter. NorthRock Partners LLC’s holdings in Equinix were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LRI Investments LLC purchased a new stake in shares of Equinix during the first quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix during the second quarter worth approximately $30,000. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its position 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 worth $36,000 after purchasing an additional 20 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Mizuho boosted their price objective on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Truist Financial boosted 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. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $908.99 on Wednesday. The stock’s 50-day moving average is $872.92 and its two-hundred day moving average is $808.98. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The company has a market cap of $87.71 billion, a price-to-earnings ratio of 81.96, a price-to-earnings-growth ratio of 2.14 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.34% and a net margin of 12.29%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company earned $8.04 EPS. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. Equinix’s payout ratio is currently 153.65%.

Insider Activity

In other news, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the transaction, the insider now owns 6,505 shares in the company, valued at $5,886,959.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,632 shares of company stock worth $10,633,777. 0.27% of the stock is currently owned by insiders.

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.