Equinix, Inc. $EQIX Position Lessened by Albion Financial Group UT

Albion Financial Group UT trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 76.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175 shares of the financial services provider’s stock after selling 579 shares during the period. Albion Financial Group UT’s holdings in Equinix were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quent Capital LLC grew its position in Equinix by 4.2% in the third quarter. Quent Capital LLC now owns 298 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 12 shares in the last quarter. Flputnam Investment Management Co. increased its position in Equinix by 1.0% during the third quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 13 shares during the last quarter. Paragon Private Wealth Management LLC increased its position in Equinix by 2.7% during the third quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider’s stock worth $388,000 after buying an additional 13 shares during the last quarter. 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 buying an additional 13 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its position in Equinix by 3.2% during the second quarter. Pathway Financial Advisers LLC now owns 455 shares of the financial services provider’s stock worth $362,000 after buying an additional 14 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EQIX shares. UBS Group increased their target price on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. TD Cowen reissued a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Truist Financial reissued a “buy” rating and issued a $1,127.00 price objective (up from $1,087.00) on shares of Equinix in a research note on Tuesday, March 31st. Stifel Nicolaus set a $1,075.00 price objective on Equinix in a research note on Thursday, February 12th. Finally, Barclays boosted their price objective on shares of Equinix from $870.00 to $1,020.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $1,019.27.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 927 shares of the company’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 $743,250.06. Following the completion of the transaction, the executive vice president owned 7,337 shares of the company’s stock, valued at approximately $5,882,659.86. This represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 2,051 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.17, for a total value of $1,649,352.67. Following the completion of the sale, the chief financial officer owned 26,373 shares of the company’s stock, valued at $21,208,375.41. This represents a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,842 shares of company stock valued at $14,494,840 in the last three months. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

EQIX opened at $1,007.29 on Wednesday. The firm has a market capitalization of $98.97 billion, a P/E ratio of 73.26, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01. The stock’s 50 day moving average price is $935.16 and its two-hundred day moving average price is $837.88. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $1,016.39.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were given a dividend of $5.16 per share. This is an increase from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, February 25th. Equinix’s dividend payout ratio (DPR) is currently 150.11%.

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.