Equinix, Inc. $EQIX Shares Sold by CCM Investment Advisers LLC

CCM Investment Advisers LLC lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,041 shares of the financial services provider’s stock after selling 904 shares during the quarter. CCM Investment Advisers LLC’s holdings in Equinix were worth $9,226,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. boosted its position in shares of Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 26 shares during the last quarter. Abound Wealth Management grew its holdings in shares of Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 23 shares during the period. Cornerstone Planning Group LLC increased its position in Equinix by 40.6% during the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 13 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Equinix during the third quarter worth about $37,000. Finally, Westside Investment Management Inc. raised its stake in Equinix by 65.6% during the third quarter. Westside Investment Management Inc. now owns 53 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $965.95 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $94.91 billion, a P/E ratio of 70.25, a P/E/G ratio of 2.48 and a beta of 1.04. The stock has a 50-day moving average of $901.04 and a two-hundred day moving average of $824.66. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $992.90.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the company posted $7.92 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were issued a dividend of $5.16 per share. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. Equinix’s dividend payout ratio (DPR) is currently 150.11%.

Analysts Set New Price Targets

EQIX has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Equinix from $925.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Wall Street Zen cut Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. The Goldman Sachs Group increased their price objective on Equinix from $785.00 to $894.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 target price on Equinix in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,013.43.

Insider Buying and Selling

In other news, EVP Raouf Abdel sold 927 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $743,250.06. Following the sale, the executive vice president directly owned 7,337 shares in the company, valued at approximately $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,670 shares of Equinix stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.08, for a total value of $2,146,893.60. Following the completion of the transaction, the chief executive officer owned 14,857 shares of the company’s stock, valued at approximately $11,946,216.56. This trade represents a 15.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,842 shares of company stock worth $14,494,840 over the last three months. 0.27% of the stock is owned by 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.