Concord Wealth Partners Trims Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Concord Wealth Partners cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 36.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91 shares of the financial services provider’s stock after selling 52 shares during the period. Concord Wealth Partners’ holdings in Equinix were worth $81,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CNB Bank boosted its holdings in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the 2nd quarter worth about $30,000. LRI Investments LLC purchased a new position in Equinix during the 1st quarter valued at about $31,000. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Equinix in the second quarter worth about $36,000. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on EQIX shares. Barclays upped their target price on shares of Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a report on Monday. Mizuho lifted their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Wells Fargo & Company boosted their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average target price of $927.67.

Equinix Stock Down 0.2 %

Shares of NASDAQ:EQIX opened at $912.62 on Tuesday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock’s 50-day moving average price is $863.21 and its 200-day moving average price is $802.33. The stock has a market capitalization of $86.61 billion, a P/E ratio of 91.54, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $8.04 earnings per share. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.87%. Equinix’s dividend payout ratio is 170.91%.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,906 shares of company stock valued at $9,071,764. Corporate insiders own 0.27% of the company’s stock.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.