Tobam Sells 170 Shares of Equinix, Inc. (NASDAQ:EQIX)

Tobam decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 51.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159 shares of the financial services provider’s stock after selling 170 shares during the quarter. Tobam’s holdings in Equinix were worth $120,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Goelzer Investment Management Inc. grew its holdings in Equinix by 0.3% in the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock worth $3,364,000 after purchasing an additional 13 shares during the period. Cypress Capital Group lifted its position in Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 13 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Equinix by 3.0% in the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 14 shares in the last quarter. Banco Santander S.A. lifted its stake in shares of Equinix by 2.0% during the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after buying an additional 14 shares in the last quarter. Finally, Ieq Capital LLC grew its position in shares of Equinix by 0.5% during the fourth quarter. Ieq Capital LLC now owns 2,923 shares of the financial services provider’s stock worth $2,354,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Mizuho initiated coverage on shares of Equinix in a report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group assumed coverage on Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $876.71.

Equinix Stock Performance

EQIX stock traded up $10.04 during midday trading on Friday, reaching $828.78. The company had a trading volume of 160,538 shares, compared to its average volume of 549,945. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average price of $790.49 and a 200 day moving average price of $795.25. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The firm has a market capitalization of $78.66 billion, a PE ratio of 82.12, a P/E/G ratio of 2.80 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 7.73% and a net margin of 11.32%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.04 earnings per share. Analysts anticipate that Equinix, Inc. will post 31.23 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.06%. Equinix’s dividend payout ratio is presently 170.91%.

Equinix Company 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.