Weatherly Asset Management L. P. Sells 53 Shares of Equinix, Inc. (NASDAQ:EQIX)

Weatherly Asset Management L. P. trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,987 shares of the financial services provider’s stock after selling 53 shares during the period. Weatherly Asset Management L. P.’s holdings in Equinix were worth $4,427,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of EQIX. Pathway Financial Advisers LLC grew its position in Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after acquiring an additional 398,494 shares during the period. Swedbank AB bought a new stake in Equinix in the first quarter valued at $294,526,000. Principal Financial Group Inc. grew its position in Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after acquiring an additional 238,883 shares during the period. Vanguard Group Inc. grew its position in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares during the period. Finally, M&G Plc bought a new stake in Equinix in the first quarter valued at $187,089,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Down 2.2 %

Shares of NASDAQ:EQIX opened at $888.30 on Friday. The company has a fifty day moving average of $869.56 and a 200-day moving average of $805.80. The company has a market capitalization of $84.34 billion, a PE ratio of 80.10, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02.

Equinix (NASDAQ:EQIX) last announced its quarterly 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.55% and a net margin of 12.29%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $8.04 earnings per share. On average, equities analysts predict 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. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.92%. Equinix’s dividend payout ratio is 153.65%.

Insider Buying and Selling

In other Equinix news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Simon Miller sold 569 shares of the 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 transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,906 shares of company stock valued at $9,071,764 over the last 90 days. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial increased their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company increased their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $944.63.

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.