Sustainable Insight Capital Management LLC Acquires 139 Shares of Equinix, Inc. (NASDAQ:EQIX)

Sustainable Insight Capital Management LLC lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 53.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 400 shares of the financial services provider’s stock after buying an additional 139 shares during the period. Sustainable Insight Capital Management LLC’s holdings in Equinix were worth $303,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in EQIX. Vanguard Group Inc. increased its position in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Cohen & Steers Inc. increased its stake in shares of Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after purchasing an additional 13,988 shares in the last quarter. Norges Bank purchased a new position in shares of Equinix in the fourth quarter valued at about $1,574,132,000. Principal Financial Group Inc. lifted its holdings in Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Equinix by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after acquiring an additional 47,795 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other Equinix news, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares in the company, valued at approximately $5,862,689.59. The disclosure for this sale can be found here. Insiders sold a total of 7,472 shares of company stock valued at $6,154,812 in the last ninety days. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $817.96 on Friday. The business has a 50-day moving average of $800.75 and a two-hundred day moving average of $794.48. The firm has a market capitalization of $77.63 billion, a PE ratio of 82.04, a P/E/G ratio of 2.03 and a beta of 0.68. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $8.04 EPS. As a group, research analysts forecast that Equinix, Inc. will post 31.04 earnings per share for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.08%. Equinix’s dividend payout ratio is currently 170.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQIX. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Royal Bank of Canada cut their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group started coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target on the stock. Finally, Mizuho started coverage on Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $876.71.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.