Orion Portfolio Solutions LLC Has $10.87 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Orion Portfolio Solutions LLC cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 27.4% during the first quarter, HoldingsChannel reports. The fund owned 13,174 shares of the financial services provider’s stock after selling 4,978 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Equinix were worth $10,873,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Cohen & Steers Inc. increased its stake in shares of Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after acquiring an additional 13,988 shares during the last quarter. Norges Bank bought a new stake in Equinix in the fourth quarter worth $1,574,132,000. Principal Financial Group Inc. boosted its holdings in Equinix by 14.9% in the first quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock worth $1,361,224,000 after purchasing an additional 213,740 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Equinix by 1.4% in the fourth quarter. Wellington Management Group LLP now owns 992,401 shares of the financial services provider’s stock worth $799,270,000 after purchasing an additional 13,274 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in Equinix by 5.6% in the fourth quarter. Centersquare Investment Management LLC now owns 830,862 shares of the financial services provider’s stock worth $669,168,000 after purchasing an additional 44,385 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX traded down $8.25 during mid-day trading on Friday, hitting $786.82. 234,262 shares of the company traded hands, compared to its average volume of 574,747. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $770.66 and a 200 day moving average of $797.59. The stock has a market capitalization of $74.68 billion, a price-to-earnings ratio of 78.97, a PEG ratio of 2.78 and a beta of 0.68.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.17%. Equinix’s payout ratio is presently 170.91%.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. TD Cowen decreased their price target on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a report on Friday, May 10th. Royal Bank of Canada decreased their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, Mizuho assumed coverage on shares of Equinix in a report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $872.38.

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.