Yousif Capital Management LLC Sells 907 Shares of Equinix, Inc. $EQIX

Yousif Capital Management LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,025 shares of the financial services provider’s stock after selling 907 shares during the period. Yousif Capital Management LLC’s holdings in Equinix were worth $10,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. increased its position in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 26 shares during the last quarter. 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 purchasing an additional 23 shares during the last quarter. Princeton Global Asset Management LLC increased its position in Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 13 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in Equinix in the third quarter worth $37,000. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on EQIX. Sanford C. Bernstein began coverage on shares of Equinix in a research note on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 price objective for the company. Stifel Nicolaus set a $1,075.00 price objective on shares of Equinix in a research note on Thursday, February 12th. Barclays lifted their price objective on shares of Equinix from $870.00 to $1,020.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. TD Cowen reissued a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Finally, Jefferies Financial Group boosted their target price on shares of Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $1,019.27.

Equinix Stock Performance

EQIX stock opened at $1,017.66 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50-day moving average price of $939.19 and a 200 day moving average price of $839.14. The company has a market capitalization of $99.99 billion, a P/E ratio of 74.01, a PEG ratio of 2.57 and a beta of 1.01. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $1,023.47.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion during 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%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.92 earnings per share. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a $5.16 dividend. The ex-dividend date was Wednesday, February 25th. This is an increase from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix’s dividend payout ratio is presently 150.11%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the sale, the executive vice president directly owned 7,768 shares in the company, valued at $7,501,479.92. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 305 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $961.19, for a total transaction of $293,162.95. Following the completion of the transaction, the chairman owned 12,594 shares of the company’s stock, valued at $12,105,226.86. This represents a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,842 shares of company stock valued at $14,494,840 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

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.