Everence Capital Management Inc. Sells 480 Shares of Equinix, Inc. (NASDAQ:EQIX)

Everence Capital Management Inc. lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,097 shares of the financial services provider’s stock after selling 480 shares during the period. Everence Capital Management Inc.’s holdings in Equinix were worth $3,637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQIX. Cypress Capital Group increased its stake in shares of 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 buying an additional 13 shares during the period. MRA Advisory Group increased its position in Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares during the period. Banco Santander S.A. raised its holdings in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares in the last quarter. Abbrea Capital LLC lifted its position in shares of Equinix by 5.5% in the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 14 shares during the period. Finally, Grove Bank & Trust lifted its position in shares of Equinix by 8.1% in the 3rd quarter. Grove Bank & Trust now owns 186 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 14 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction that occurred on 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. In the last quarter, insiders sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. HSBC raised Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group raised their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Five equities research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $914.36.

Equinix Stock Down 1.6 %

EQIX traded down $14.41 during trading on Monday, hitting $880.79. 83,127 shares of the company’s stock traded hands, compared to its average volume of 527,360. The stock has a market capitalization of $83.59 billion, a price-to-earnings ratio of 89.79, a PEG ratio of 2.13 and a beta of 0.71. The company’s 50 day simple moving average is $855.35 and its two-hundred day simple moving average is $797.63. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last released 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). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.04 earnings per share. Analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.93%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 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.