Fingerlakes Wealth Management Inc. Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Fingerlakes Wealth Management Inc. lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 528 shares of the financial services provider’s stock after selling 17 shares during the period. Fingerlakes Wealth Management Inc.’s holdings in Equinix were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EQIX. Private Advisor Group LLC raised its stake in shares of Equinix by 18.9% during the 4th quarter. Private Advisor Group LLC now owns 882 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 140 shares during the period. Gryphon Financial Partners LLC bought a new stake in Equinix in the fourth quarter worth about $581,000. Principal Securities Inc. purchased a new position in Equinix in the fourth quarter valued at about $344,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Equinix by 442.6% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 510 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 416 shares during the period. Finally, Quotient Wealth Partners LLC purchased a new stake in shares of Equinix during the 4th quarter worth approximately $205,000. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on EQIX. Deutsche Bank Aktiengesellschaft increased their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. TD Cowen lifted their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Truist Financial boosted their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Mizuho started coverage on shares of Equinix in a research note on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $876.71.

Equinix Price Performance

Shares of EQIX stock opened at $867.70 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $82.35 billion, a P/E ratio of 87.03, a P/E/G ratio of 1.99 and a beta of 0.71. The business’s 50 day moving average price is $806.73 and its 200-day moving average price is $793.62. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data 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 return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business earned $8.04 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors 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 dividend on an annualized basis and a yield of 1.96%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

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.