Equinix, Inc. $EQIX Stock: Trillium Asset Management LLC Cuts Stake

Trillium Asset Management LLC trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,492 shares of the financial services provider’s stock after selling 628 shares during the quarter. Trillium Asset Management LLC’s holdings in Equinix were worth $17,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Equinix in the second quarter worth approximately $11,930,074,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Equinix by 26,831.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock valued at $1,291,648,000 after purchasing an additional 1,234,521 shares during the period. Legal & General Group Plc purchased a new position in shares of Equinix during the 2nd quarter valued at $1,181,260,000. Canada Pension Plan Investment Board purchased a new position in shares of Equinix during the 2nd quarter valued at $1,163,662,000. Finally, Deutsche Bank AG purchased a new position in shares of Equinix during the 2nd quarter valued at $1,118,930,000. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, insider Michael Paladin sold 307 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the completion of the transaction, the insider owned 2,450 shares in the company, valued at $2,535,774.50. This trade represents a 11.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kurt Pletcher sold 198 shares of Equinix stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $1,014.18, for a total value of $200,807.64. Following the completion of the sale, the insider directly owned 3,879 shares in the company, valued at approximately $3,934,004.22. The trade was a 4.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 968 shares of company stock valued at $1,007,885. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

Shares of NASDAQ:EQIX traded down $18.98 during midday trading on Friday, reaching $1,053.79. 445,928 shares of the company were exchanged, compared to its average volume of 723,856. The stock has a market cap of $103.98 billion, a PE ratio of 63.29, a price-to-earnings-growth ratio of 1.50 and a beta of 0.98. The business’s fifty day moving average is $1,019.12 and its two-hundred day moving average is $1,019.84. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.59.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.82. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. Equinix had a net margin of 16.38% and a return on equity of 11.49%. Equinix’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.83 EPS. As a group, analysts predict that Equinix, Inc. will post 39.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be issued a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Equinix’s payout ratio is 123.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EQIX shares. UBS Group increased their price target on Equinix from $1,210.00 to $1,265.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce initiated coverage on Equinix in a research report on Tuesday, October 20th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Equinix from $1,015.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings raised Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $1,211.00 target price on shares of Equinix in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,234.13.

Equinix Profile

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.