Banque Cantonale Vaudoise Sells 1,420 Shares of Equinix, Inc. $EQIX

Banque Cantonale Vaudoise cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 24.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,392 shares of the financial services provider’s stock after selling 1,420 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Equinix were worth $3,440,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EQIX. Ameriflex Group Inc. grew its stake in shares of Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 26 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Equinix during the 2nd quarter valued at about $26,000. Abound Wealth Management raised its position in shares of Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 23 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Equinix in the 2nd quarter valued at about $28,000. Finally, Salomon & Ludwin LLC purchased a new position in Equinix in the third quarter worth about $37,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.2%

Shares of NASDAQ EQIX opened at $956.07 on Wednesday. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90. The firm has a 50-day simple moving average of $859.41 and a two-hundred day simple moving average of $810.10. The company has a market cap of $93.94 billion, a P/E ratio of 69.53, a PEG ratio of 2.43 and a beta of 1.04. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32.

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

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a yield of 2.2%. Equinix’s payout ratio is 150.11%.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the sale, the executive vice president owned 7,337 shares in the company, valued at $5,882,659.86. This trade represents a 11.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Lin sold 888 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $711,980.64. Following the completion of the sale, the insider directly owned 9,390 shares of the company’s stock, valued at approximately $7,528,714.20. This trade represents a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 13,602 shares of company stock valued at $11,369,645. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. BMO Capital Markets raised their price objective on Equinix from $925.00 to $1,050.00 and gave the company an “outperform” 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. Jefferies Financial Group increased their price target on Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Stifel Nicolaus set a $1,075.00 price target on Equinix in a research report on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,006.91.

Equinix 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.