Stonegate Investment Group LLC Sells 34 Shares of Equinix, Inc. (NASDAQ:EQIX)

Stonegate Investment Group LLC decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 440 shares of the financial services provider’s stock after selling 34 shares during the quarter. Stonegate Investment Group LLC’s holdings in Equinix were worth $391,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new position in Equinix during the first quarter worth about $15,187,000. BDF Gestion bought a new stake in Equinix during the 2nd quarter valued at $2,659,000. Bessemer Group Inc. boosted its holdings in shares of Equinix by 159.4% in the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after acquiring an additional 1,380 shares during the period. Brookmont Capital Management bought a new stake in shares of Equinix during the 1st quarter valued at $2,894,000. Finally, GSA Capital Partners LLP purchased a new stake in Equinix during the 1st quarter worth about $804,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated 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 directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. 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. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $895.20 on Friday. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The business has a 50 day moving average of $855.35 and a 200 day moving average of $797.53. The company has a market capitalization of $84.96 billion, a price-to-earnings ratio of 89.79, a PEG ratio of 2.13 and a beta of 0.71.

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

Equinix Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Evercore ISI raised Equinix to a “strong-buy” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Truist Financial raised their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. 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 report on Thursday, August 8th. Finally, The Goldman Sachs Group increased their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus 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.