Equinix, Inc. $EQIX Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,868 shares of the financial services provider’s stock after selling 125 shares during the period. Logan Capital Management Inc.’s holdings in Equinix were worth $3,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EQIX. Valeo Financial Advisors LLC lifted its stake in shares of Equinix by 298,148.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock valued at $6,488,728,000 after purchasing an additional 8,154,365 shares in the last quarter. Nuveen LLC acquired a new position in shares of Equinix in the 1st quarter valued at about $662,663,000. JPMorgan Chase & Co. lifted its stake in shares of Equinix by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider’s stock valued at $1,296,871,000 after purchasing an additional 291,753 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Equinix by 169.7% in the 1st quarter. National Bank of Canada FI now owns 394,223 shares of the financial services provider’s stock valued at $321,427,000 after purchasing an additional 248,075 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider’s stock valued at $10,523,576,000 after buying an additional 242,121 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Down 3.2%

Shares of NASDAQ:EQIX opened at $816.13 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The company has a fifty day simple moving average of $793.70 and a 200 day simple moving average of $815.73. The firm has a market cap of $79.87 billion, a PE ratio of 79.93, a price-to-earnings-growth ratio of 1.46 and a beta of 0.92. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $6.42. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.22 earnings per share. On average, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 75 shares of Equinix stock in a transaction on Monday, August 18th. The shares were sold at an average price of $781.50, for a total value of $58,612.50. Following the completion of the sale, the director owned 17,832 shares in the company, valued at approximately $13,935,708. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raouf Abdel sold 404 shares of Equinix stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $771.11, for a total transaction of $311,528.44. Following the completion of the sale, the executive vice president owned 6,378 shares of the company’s stock, valued at approximately $4,918,139.58. This trade represents a 5.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQIX. Truist Financial raised their target price on Equinix from $904.00 to $961.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Guggenheim began coverage on Equinix in a report on Thursday, July 10th. They set a “buy” rating and a $933.00 target price on the stock. Barclays raised their target price on Equinix from $798.00 to $804.00 and gave the company an “equal weight” rating in a report on Wednesday, August 20th. Cowen reiterated a “buy” rating on shares of Equinix in a report on Thursday, July 3rd. Finally, Mizuho dropped their target price on Equinix from $1,069.00 to $900.00 and set an “outperform” rating on the stock in a report on Tuesday, July 1st. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $957.38.

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.