Xponance Inc. Decreases Holdings in Equinix, Inc. $EQIX

Xponance Inc. reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 14,274 shares of the financial services provider’s stock after selling 545 shares during the quarter. Xponance Inc.’s holdings in Equinix were worth $11,180,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in EQIX. Westside Investment Management Inc. grew its position in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 21 shares during the period. Atlantic Union Bankshares Corp bought a new position in Equinix during the second quarter valued at $26,000. Abound Wealth Management increased its position in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 23 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Equinix in the second quarter valued at $28,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on EQIX shares. Barclays reaffirmed a “positive” rating and set a $870.00 price objective on shares of Equinix in a report on Tuesday, January 13th. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Morgan Stanley reiterated an “overweight” rating and issued a $1,075.00 price objective on shares of Equinix in a research note on Friday, February 13th. Scotiabank restated an “outperform” rating on shares of Equinix in a research report on Thursday, February 12th. Finally, Citigroup reiterated a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,001.41.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.25, for a total value of $1,072,065.25. Following the completion of the transaction, the insider owned 9,551 shares of the company’s stock, valued at $7,681,391.75. The trade was a 12.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Lin sold 888 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $711,980.64. Following the sale, the insider owned 9,390 shares in the company, valued at approximately $7,528,714.20. This trade represents a 8.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,353 shares of company stock valued at $11,283,043 over the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Up 2.8%

Shares of NASDAQ:EQIX opened at $974.26 on Friday. The firm has a fifty day moving average price of $832.07 and a two-hundred day moving average price of $800.99. The company has a market cap of $95.72 billion, a price-to-earnings ratio of 70.86, a PEG ratio of 2.44 and a beta of 1.06. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. Equinix, Inc. has a one year low of $701.41 and a one year high of $992.90.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. Equinix’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $7.92 EPS. Analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 2.1%. Equinix’s payout ratio is presently 150.11%.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.