Diversified Trust Co. Sells 2,763 Shares of Equinix, Inc. $EQIX

Diversified Trust Co. lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 62.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,651 shares of the financial services provider’s stock after selling 2,763 shares during the period. Diversified Trust Co.’s holdings in Equinix were worth $1,265,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Equinix in the 2nd quarter valued at $892,431,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Equinix by 408.1% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock worth $929,312,000 after buying an additional 953,001 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after buying an additional 588,967 shares in the last quarter. State Street Corp lifted its stake in shares of Equinix by 3.7% in the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after buying an additional 220,981 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Equinix by 1.2% during the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after buying an additional 162,638 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EQIX. Jefferies Financial Group boosted their price objective on Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. UBS Group raised their target price on Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Sanford C. Bernstein initiated coverage on Equinix in a research report on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 target price on the stock. Wells Fargo & Company upped their price target on Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, Wall Street Zen lowered Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,015.05.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 1,086 shares of Equinix stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the completion of the sale, the chief executive officer owned 19,574 shares in the company, valued at approximately $18,912,398.80. This trade represents a 5.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 305 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total transaction of $293,162.95. Following the sale, the chairman owned 12,594 shares of the company’s stock, valued at approximately $12,105,226.86. The trade was a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,842 shares of company stock valued at $14,494,840 in the last ninety days. 0.27% of the stock is owned by insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $963.52 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The stock has a fifty day simple moving average of $904.28 and a two-hundred day simple moving average of $825.62. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $992.90. The firm has a market cap of $94.67 billion, a price-to-earnings ratio of 70.07, a price-to-earnings-growth ratio of 2.48 and a beta of 1.04.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business earned $7.92 EPS. Equinix’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

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

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.