Avitas Wealth Management LLC Reduces Stake in Equinix, Inc. (NASDAQ:EQIX)

Avitas Wealth Management LLC decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.3% during the third quarter, HoldingsChannel.com reports. The firm owned 1,244 shares of the financial services provider’s stock after selling 98 shares during the period. Avitas Wealth Management LLC’s holdings in Equinix were worth $1,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EQIX. Pathway Financial Advisers LLC lifted its holdings in Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after purchasing an additional 398,494 shares in the last quarter. Swedbank AB purchased a new stake in shares of Equinix in the 1st quarter valued at about $294,526,000. Principal Financial Group Inc. raised its holdings in shares of Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares in the last quarter. Finally, M&G Plc purchased a new stake in shares of Equinix in the 1st quarter valued at about $187,089,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. 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. Mizuho raised their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Wells Fargo & Company raised their price objective on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $927.67.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares in the company, valued at $7,531,365. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares in the company, valued at $7,531,365. This trade represents a 0.00 % decrease in their position. 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 Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,906 shares of company stock worth $9,071,764 in the last quarter. 0.27% of the stock is owned by company insiders.

Equinix Price Performance

Shares of EQIX stock opened at $910.22 on Thursday. The firm has a market cap of $86.39 billion, a P/E ratio of 91.30, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The business’s 50 day moving average price is $866.57 and its 200-day moving average price is $804.08. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.04 earnings per share. On average, equities research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

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

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.