Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,700 shares of the financial services provider’s stock after selling 500 shares during the period. Cornerstone Advisors LLC’s holdings in Equinix were worth $2,043,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in shares of Equinix by 0.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after purchasing an additional 1,159 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Equinix during the fourth quarter worth $3,724,000. Global Assets Advisory LLC acquired a new stake in shares of Equinix during the first quarter worth $15,187,000. Schroder Investment Management Group raised its holdings in shares of Equinix by 0.6% during the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after purchasing an additional 1,547 shares during the period. Finally, Banque Cantonale Vaudoise grew its position in shares of Equinix by 48.0% during the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after acquiring an additional 2,133 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on EQIX shares. The Goldman Sachs Group started coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Barclays increased their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Royal Bank of Canada decreased their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Finally, TD Cowen increased their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Transactions at Equinix

In other news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,043 shares of company stock worth $8,282,119. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $876.57 on Tuesday. The firm has a market cap of $83.19 billion, a PE ratio of 87.92, a PEG ratio of 2.11 and a beta of 0.71. The firm’s 50 day moving average price is $813.86 and its 200 day moving average price is $792.77. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business earned $8.04 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts expect that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.94%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Equinix Profile

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.