Equinix, Inc. $EQIX Shares Sold by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 7.5% during the third quarter, Holdings Channel.com reports. The firm owned 16,126 shares of the financial services provider’s stock after selling 1,301 shares during the quarter. Equinix makes up 0.5% of New Age Alpha Advisors LLC’s investment portfolio, making the stock its 28th largest position. New Age Alpha Advisors LLC’s holdings in Equinix were worth $12,631,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Westside Investment Management Inc. boosted its stake in shares of Equinix by 190.9% in the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Equinix in the second quarter valued at $26,000. Abound Wealth Management boosted its position in shares of Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Equinix during the 2nd quarter worth $28,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Equinix by 1,466.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 47 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 44 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Charles J. Meyers sold 2,094 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.14, for a total transaction of $1,683,869.16. Following the sale, the chairman owned 13,253 shares in the company, valued at approximately $10,657,267.42. This trade represents a 13.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,353 shares of company stock worth $11,283,043 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Equinix Price Performance

EQIX stock opened at $974.26 on Friday. The stock’s 50 day moving average price is $832.07 and its 200 day moving average price is $801.08. The firm has a market cap of $95.72 billion, a P/E ratio of 70.86, a PEG ratio of 2.50 and a beta of 1.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results 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). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the business posted $7.92 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a $5.16 dividend. This represents a $20.64 annualized dividend and a yield of 2.1%. 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. Equinix’s dividend payout ratio is presently 150.11%.

Analyst Upgrades and Downgrades

EQIX has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective 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. Barclays reiterated a “positive” rating and set a $870.00 price target on shares of Equinix in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Finally, Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,001.41.

Equinix Company 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.