GDS Wealth Management Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

GDS Wealth Management cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 403 shares of the financial services provider’s stock after selling 58 shares during the period. GDS Wealth Management’s holdings in Equinix were worth $305,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EQIX. Swedbank AB purchased a new position in shares of Equinix during the first quarter valued at approximately $294,526,000. Principal Financial Group Inc. lifted its stake in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. M&G Plc purchased a new position in Equinix during the 1st quarter valued at $187,089,000. Finally, Quadrature Capital Ltd bought a new position in Equinix in the 1st quarter valued at $145,308,000. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,043 shares of company stock valued at $8,282,119. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $876.57 on Tuesday. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The firm’s fifty day simple moving average is $813.86 and its two-hundred day simple moving average is $792.77. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $83.19 billion, a P/E ratio of 87.92, a P/E/G ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced 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). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $8.04 earnings per share. Analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. Equinix’s payout ratio is 170.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EQIX shares. TD Cowen lifted their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group began coverage on shares of Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Mizuho raised their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. 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 research note on Tuesday, August 13th. Finally, Barclays increased their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

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.