Allworth Financial LP Sells 21 Shares of Equinix, Inc. (NASDAQ:EQIX)

Allworth Financial LP reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 9.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195 shares of the financial services provider’s stock after selling 21 shares during the quarter. Allworth Financial LP’s holdings in Equinix were worth $173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. BDF Gestion purchased a new stake in Equinix during the second quarter valued at about $2,659,000. Bessemer Group Inc. boosted its holdings in Equinix by 159.4% in the 1st quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after buying an additional 1,380 shares during the period. GSA Capital Partners LLP purchased a new position in Equinix in the 1st quarter valued at approximately $804,000. E. Ohman J or Asset Management AB raised its holdings in Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after acquiring an additional 1,103 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of Equinix by 25.9% during the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after acquiring an additional 75,888 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $910.22 on Thursday. The stock’s 50-day moving average is $866.57 and its 200 day moving average is $804.08. The stock has a market cap of $86.39 billion, a price-to-earnings ratio of 91.30, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. 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 posted its quarterly earnings results 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 business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business posted $8.04 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS 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 1.87%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen increased 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. Barclays boosted their price objective on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $927.67.

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 Equinix news, insider Meredith Williamson sold 576 shares of the business’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 value of $474,733.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 in the company, valued at $6,328,089.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,906 shares of company stock worth $9,071,764. Company insiders own 0.27% of the company’s stock.

About Equinix

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.