Nicollet Investment Management Inc. Has $2.82 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Nicollet Investment Management Inc. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,727 shares of the financial services provider’s stock after selling 86 shares during the period. Nicollet Investment Management Inc.’s holdings in Equinix were worth $2,820,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EQIX. Public Employees Retirement System of Ohio boosted its position in shares of Equinix by 0.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after purchasing an additional 1,159 shares in the last quarter. Pinebridge Investments L.P. bought a new position in Equinix during the fourth quarter worth about $3,724,000. Global Assets Advisory LLC acquired a new position in Equinix in the first quarter valued at about $15,187,000. Schroder Investment Management Group increased its holdings in shares of Equinix by 0.6% in the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after acquiring an additional 1,547 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Equinix by 48.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after acquiring an additional 2,133 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several research analyst reports. Mizuho started coverage on Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price objective for the company. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. TD Cowen boosted their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $876.71.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred 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 in the company, valued at $6,328,089.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 600 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $816.73, for a total value of $490,038.00. Following the completion of the transaction, the insider now directly owns 14,800 shares of the company’s stock, valued at approximately $12,087,604. The disclosure for this sale can be found here. Insiders sold 9,179 shares of company stock valued at $7,547,719 in the last quarter. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Equinix stock opened at $864.78 on Wednesday. The company has a market capitalization of $82.10 billion, a price-to-earnings ratio of 86.74, a PEG ratio of 1.99 and a beta of 0.71. The stock’s 50 day moving average is $804.36 and its 200-day moving average is $793.09. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for 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%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.04 EPS. Equities research analysts expect that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio is currently 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.