Oppenheimer Asset Management Inc. Cuts Stock Position in Equinix, Inc. $EQIX

Oppenheimer Asset Management Inc. lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,790 shares of the financial services provider’s stock after selling 618 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Equinix were worth $4,606,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQIX. Valeo Financial Advisors LLC grew its position in shares of Equinix by 298,148.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after buying an additional 8,154,365 shares during the last quarter. Nuveen LLC acquired a new stake in Equinix in the 1st quarter worth approximately $662,663,000. JPMorgan Chase & Co. boosted its stake in Equinix by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider’s stock worth $1,296,871,000 after purchasing an additional 291,753 shares in the last quarter. National Bank of Canada FI boosted its stake in Equinix by 169.7% in the 1st quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider’s stock worth $321,427,000 after purchasing an additional 248,075 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider’s stock worth $10,523,576,000 after purchasing an additional 242,121 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EQIX shares. Daiwa Capital Markets set a $917.00 target price on shares of Equinix and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group lowered their target price on shares of Equinix from $1,020.00 to $880.00 and set a “buy” rating for the company in a research note on Wednesday, July 2nd. Cowen restated a “buy” rating on shares of Equinix in a research note on Thursday, July 3rd. Cfra Research cut shares of Equinix from a “moderate buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Five analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has an average rating of “Buy” and a consensus target price of $957.38.

Equinix Stock Performance

EQIX opened at $816.13 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a fifty day moving average price of $793.70 and a 200 day moving average price of $815.73. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The stock has a market cap of $79.87 billion, a P/E ratio of 79.93, a P/E/G ratio of 1.46 and a beta of 0.92.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the business posted $9.22 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 75 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $781.50, for a total value of $58,612.50. Following the completion of the transaction, the director directly owned 17,832 shares in the company, valued at $13,935,708. The trade was a 0.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Raouf Abdel sold 404 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $771.11, for a total transaction of $311,528.44. Following the completion of the transaction, the executive vice president owned 6,378 shares of the company’s stock, valued at approximately $4,918,139.58. This represents a 5.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.