Equinix, Inc. $EQIX Stock Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 13.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,541 shares of the financial services provider’s stock after selling 890 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Equinix were worth $5,605,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EQIX. BlackRock Inc. bought a new position in Equinix during the second quarter worth about $11,930,074,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $1,291,648,000 after buying an additional 1,234,521 shares during the period. Legal & General Group Plc acquired a new position in shares of Equinix during the 2nd quarter worth about $1,181,260,000. Canada Pension Plan Investment Board bought a new stake in shares of Equinix in the 2nd quarter valued at about $1,163,662,000. Finally, Deutsche Bank AG bought a new stake in shares of Equinix in the 2nd quarter valued at about $1,118,930,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $1,068.06 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a 50 day moving average price of $1,017.79 and a 200 day moving average price of $1,017.28. The stock has a market capitalization of $105.39 billion, a PE ratio of 64.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68.

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

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 18th will be issued a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, November 18th. Equinix’s payout ratio is presently 123.96%.

Analyst Ratings Changes

EQIX has been the subject of a number of analyst reports. Raymond James Financial restated a “strong-buy” rating and set a $1,250.00 price objective on shares of Equinix in a report on Thursday, October 29th. JPMorgan Chase & Co. increased their target price on shares of Equinix from $1,300.00 to $1,350.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Evercore reissued an “outperform” rating and set a $1,270.00 price target (up from $1,240.00) on shares of Equinix in a research report on Tuesday, August 18th. Rothschild & Co Redburn initiated coverage on shares of Equinix in a report on Monday, September 21st. They issued a “buy” rating and a $1,261.00 price target for the company. Finally, UBS Group boosted their price target on shares of Equinix from $1,210.00 to $1,265.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,234.13.

Insider Buying and Selling

In other Equinix news, insider Michael Paladin sold 307 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the sale, the insider directly owned 2,450 shares of the company’s stock, valued at approximately $2,535,774.50. This represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christopher Paisley sold 125 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the completion of the sale, the director owned 13,734 shares of the company’s stock, valued at approximately $15,156,567.72. This represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 968 shares of company stock worth $1,007,885. Insiders own 0.27% of the company’s stock.

Equinix Company 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.