Hsbc Holdings PLC Reduces Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Hsbc Holdings PLC cut its position in Equinix, Inc. (NASDAQ:EQIX) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 335,501 shares of the financial services provider’s stock after selling 10,947 shares during the period. Hsbc Holdings PLC owned approximately 0.35% of Equinix worth $253,995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQIX. Gryphon Financial Partners LLC acquired a new stake in Equinix during the 4th quarter valued at approximately $581,000. Great Lakes Advisors LLC lifted its position in Equinix by 43.4% during the fourth quarter. Great Lakes Advisors LLC now owns 3,173 shares of the financial services provider’s stock valued at $2,556,000 after purchasing an additional 960 shares during the period. Financial Advocates Investment Management boosted its holdings in Equinix by 3.7% in the fourth quarter. Financial Advocates Investment Management now owns 476 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 17 shares during the last quarter. Brown Advisory Inc. acquired a new stake in Equinix during the 4th quarter worth about $288,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Equinix during the 4th quarter valued at about $481,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EQIX shares. TD Cowen increased their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Royal Bank of Canada lowered their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Mizuho boosted their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $883.71.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on 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 of the company’s stock, valued at $6,328,089.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is currently owned by company insiders.

Equinix Trading Down 1.4 %

Shares of Equinix stock opened at $864.33 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $815.81 and its 200-day simple moving average is $792.51. The stock has a market cap of $82.03 billion, a P/E ratio of 86.69, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93.

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

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

About Equinix

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.