Brighton Jones LLC Reduces Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Brighton Jones LLC cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 253 shares of the financial services provider’s stock after selling 14 shares during the quarter. Brighton Jones LLC’s holdings in Equinix were worth $224,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. BDF Gestion bought a new stake in shares of Equinix during the second quarter valued at about $2,659,000. Bessemer Group Inc. lifted its stake in Equinix by 159.4% in the 1st quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 1,380 shares in the last quarter. GSA Capital Partners LLP bought a new position in Equinix in the 1st quarter valued at $804,000. Duff & Phelps Investment Management Co. grew its position in shares of Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after purchasing an additional 75,888 shares in the last quarter. Finally, BNP Paribas bought a new position in shares of Equinix in the first quarter worth $1,333,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Wells Fargo & Company raised their target price on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI lifted their target price on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, 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. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $918.40.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Up 2.1 %

NASDAQ EQIX opened at $914.33 on Friday. 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, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The stock has a market cap of $86.81 billion, a P/E ratio of 83.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The stock has a 50 day simple moving average of $861.56 and a two-hundred day simple moving average of $801.17.

Equinix (NASDAQ:EQIX) last announced its earnings results 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). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $8.04 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 156.04%.

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.