Equinix, Inc. $EQIX Stock Sold by Machina Capital S.A.S.

Machina Capital S.A.S. cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 47.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,940 shares of the financial services provider’s stock after selling 2,703 shares during the period. Machina Capital S.A.S.’s holdings in Equinix were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fulton Bank N.A. increased its holdings in Equinix by 3.1% during the 2nd quarter. Fulton Bank N.A. now owns 328 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 10 shares in the last quarter. High Net Worth Advisory Group LLC lifted its holdings in shares of Equinix by 5.3% in the second quarter. High Net Worth Advisory Group LLC now owns 219 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 11 shares in the last quarter. Angeles Wealth Management LLC lifted its holdings in shares of Equinix by 3.7% in the second quarter. Angeles Wealth Management LLC now owns 310 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 11 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Equinix by 30.8% in the first quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 12 shares in the last quarter. Finally, Front Row Advisors LLC lifted its holdings in shares of Equinix by 0.4% in the first quarter. Front Row Advisors LLC now owns 3,317 shares of the financial services provider’s stock valued at $3,251,000 after purchasing an additional 12 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equinix

In related news, insider Michael Paladin sold 307 shares of the company’s stock in a transaction dated 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 sale, the insider owned 2,450 shares in the company, 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 accessible through this hyperlink. Also, Director Christopher Paisley sold 125 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total value of $137,947.50. Following the transaction, the director directly owned 13,734 shares of the company’s stock, valued at $15,156,567.72. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 968 shares of company stock valued at $1,007,885. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

EQIX has been the subject of several recent research reports. UBS Group increased their price objective on Equinix from $1,210.00 to $1,265.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Evercore reissued an “outperform” rating and issued a $1,270.00 target price (up from $1,240.00) on shares of Equinix in a research report on Tuesday, August 18th. Raymond James Financial restated a “strong-buy” rating and issued a $1,250.00 target price on shares of Equinix in a research note on Thursday, October 29th. Truist Financial upped their price target on Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, TD Cowen upped their price target on Equinix from $1,166.00 to $1,210.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $1,234.13.

Equinix Stock Up 1.7%

Shares of EQIX stock opened at $1,068.06 on Thursday. 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, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The firm’s fifty day moving average price is $1,017.79 and its two-hundred day moving average price is $1,017.28. The firm has a market capitalization of $105.39 billion, a P/E ratio of 64.15, a PEG ratio of 1.47 and a beta of 0.98.

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

Equinix Dividend Announcement

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

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.