CapWealth Advisors LLC Sells 1,843 Shares of Equinix, Inc. $EQIX

CapWealth Advisors LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,567 shares of the financial services provider’s stock after selling 1,843 shares during the period. Equinix makes up approximately 1.6% of CapWealth Advisors LLC’s investment portfolio, making the stock its 29th biggest position. CapWealth Advisors LLC’s holdings in Equinix were worth $17,675,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 21 shares during the period. Atlantic Union Bankshares Corp acquired a new position in Equinix in the second quarter valued at about $26,000. Bank of Jackson Hole Trust raised its stake in Equinix by 70.0% in the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. Abound Wealth Management lifted its position in Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Equinix during the second quarter worth about $28,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several analyst reports. BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price for the company in a research report on Wednesday, December 3rd. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Truist Financial upped their target price on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Wall Street Zen raised Equinix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, TD Cowen boosted their price target on Equinix from $993.00 to $995.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $953.90.

Equinix Stock Down 0.5%

Shares of NASDAQ:EQIX opened at $766.16 on Friday. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $964.73. The company has a market capitalization of $75.23 billion, a PE ratio of 70.16, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The company has a fifty day moving average of $774.88 and a 200-day moving average of $787.55.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the company posted $9.05 EPS. Equinix’s quarterly revenue was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. Equinix’s dividend payout ratio is currently 171.79%.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 159 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total transaction of $116,259.21. Following the completion of the transaction, the executive vice president owned 6,584 shares of the company’s stock, valued at approximately $4,814,154.96. This trade represents a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 290 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.19, for a total transaction of $212,045.10. Following the completion of the sale, the insider directly owned 2,433 shares in the company, valued at approximately $1,778,985.27. This represents a 10.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,704 shares of company stock worth $6,617,748 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.