Mogy Joel R Investment Counsel Inc. Sells 1,784 Shares of Equinix, Inc. (NASDAQ:EQIX)

Mogy Joel R Investment Counsel Inc. reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 28.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,403 shares of the financial services provider’s stock after selling 1,784 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Equinix were worth $3,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of EQIX. Fisher Asset Management LLC bought a new position in Equinix during the 4th quarter valued at about $381,000. Wedmont Private Capital boosted its holdings in shares of Equinix by 5.1% in the first quarter. Wedmont Private Capital now owns 915 shares of the financial services provider’s stock valued at $733,000 after purchasing an additional 44 shares during the period. Gulf International Bank UK Ltd grew its stake in Equinix by 7.4% in the first quarter. Gulf International Bank UK Ltd now owns 8,254 shares of the financial services provider’s stock worth $6,812,000 after purchasing an additional 572 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in Equinix by 2.7% during the 1st quarter. Contravisory Investment Management Inc. now owns 693 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 18 shares during the period. Finally, Ballentine Partners LLC raised its position in Equinix by 7.3% during the 1st quarter. Ballentine Partners LLC now owns 1,002 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 68 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $895.20 on Friday. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a market cap of $84.96 billion, a PE ratio of 89.79, a P/E/G ratio of 2.13 and a beta of 0.71. 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 business has a 50-day simple moving average of $855.35 and a two-hundred day simple moving average of $797.53.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted $8.04 EPS. As a group, equities analysts expect that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Insider Activity at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction 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 $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were 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 directly owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 over the last quarter. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. 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. Evercore ISI raised shares of Equinix to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and upped their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $914.36.

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.