Barton Investment Management Sells 1,809 Shares of Equinix, Inc. $EQIX

Barton Investment Management trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,853 shares of the financial services provider’s stock after selling 1,809 shares during the period. Equinix makes up 2.9% of Barton Investment Management’s portfolio, making the stock its 7th biggest position. Barton Investment Management’s holdings in Equinix were worth $28,082,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 73 shares in the last quarter. Quarry LP purchased a new stake in Equinix during the 1st quarter worth approximately $31,000. EP Wealth Advisors LLC raised its position in shares of Equinix by 16.0% in the 1st quarter. EP Wealth Advisors LLC now owns 333 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 46 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of Equinix by 13.9% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 4,389 shares of the financial services provider’s stock valued at $3,578,000 after buying an additional 537 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Equinix by 106.0% during the first quarter. AQR Capital Management LLC now owns 96,948 shares of the financial services provider’s stock worth $77,596,000 after buying an additional 49,889 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Equinix

In other news, EVP Raouf Abdel sold 159 shares of the business’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. The trade was a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 5,087 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the completion of the sale, the chairman directly owned 10,426 shares in the company, valued at approximately $8,116,328.22. This trade represents a 32.79% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,704 shares of company stock valued at $6,617,748. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $764.11 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average price is $773.37 and its two-hundred day moving average price is $786.69. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $964.73. The stock has a market capitalization of $75.03 billion, a P/E ratio of 69.97, a P/E/G ratio of 1.47 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, beating the consensus estimate of $9.27 by $0.56. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $9.05 earnings per share. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is presently 171.79%.

Analysts Set New Price Targets

EQIX has been the topic of several recent analyst reports. Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. The Goldman Sachs Group lowered shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 target price on the stock. in a research note on Thursday, December 18th. Zacks Research downgraded Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price on the stock in a report on Wednesday, December 3rd. Finally, Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $953.90.

About Equinix

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.