Checchi Capital Advisers LLC Cuts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Checchi Capital Advisers LLC lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,176 shares of the financial services provider’s stock after selling 39 shares during the period. Checchi Capital Advisers LLC’s holdings in Equinix were worth $890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EQIX. Worth Financial Advisory Group LLC bought a new position in Equinix in the 2nd quarter worth $516,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Equinix by 8.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 4,757 shares of the financial services provider’s stock valued at $3,599,000 after purchasing an additional 358 shares in the last quarter. RiverPark Advisors LLC grew its position in shares of Equinix by 11.2% during the second quarter. RiverPark Advisors LLC now owns 626 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 63 shares in the last quarter. Riverpark Capital Management LLC grew its position in shares of Equinix by 18.1% during the second quarter. Riverpark Capital Management LLC now owns 574 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 88 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in Equinix in the second quarter worth about $260,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on EQIX shares. Mizuho started coverage on shares of Equinix in a research note on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price objective for the company. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada decreased their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. The Goldman Sachs Group began coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Finally, Truist Financial lifted their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $876.71.

Equinix Stock Performance

Shares of Equinix stock traded down $5.14 on Wednesday, reaching $812.84. 96,207 shares of the stock were exchanged, compared to its average volume of 552,982. 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 fifty day moving average price of $788.81 and a two-hundred day moving average price of $795.39. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The firm has a market capitalization of $77.14 billion, a PE ratio of 82.04, a PEG ratio of 2.80 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last announced its quarterly 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 11.32% and a return on equity of 7.73%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company earned $8.04 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that Equinix, Inc. will post 31.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Equinix Company 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.