SG Americas Securities LLC Trims Stake in Equinix, Inc. $EQIX

SG Americas Securities LLC reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 93.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190 shares of the financial services provider’s stock after selling 2,742 shares during the period. SG Americas Securities LLC’s holdings in Equinix were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Westside Investment Management Inc. increased its stake in shares of Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Equinix in the 2nd quarter valued at $26,000. Bank of Jackson Hole Trust raised its stake in Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 14 shares during the period. Abound Wealth Management lifted its holdings in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Equinix during the 2nd quarter worth $28,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Down 0.6%

Shares of EQIX stock opened at $820.93 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $953.41. The firm has a market capitalization of $80.61 billion, a PE ratio of 75.18, a P/E/G ratio of 1.29 and a beta of 1.05. The business’s fifty day moving average price is $769.84 and its 200 day moving average price is $784.68.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the firm earned $9.05 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Insider Activity at Equinix

In other news, insider Michael Shane Paladin sold 327 shares of Equinix stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.36, for a total transaction of $263,025.72. Following the completion of the sale, the insider directly owned 952 shares in the company, valued at $765,750.72. The trade was a 25.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathan Lin sold 888 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $711,980.64. Following the completion of the sale, the insider directly owned 9,390 shares of the company’s stock, valued at $7,528,714.20. The trade was a 8.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,590 shares of company stock worth $15,366,046 over the last three months. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on EQIX. JPMorgan Chase & Co. boosted their target price on Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Morgan Stanley assumed coverage on shares of Equinix in a research note on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price target for the company. Truist Financial lifted their price target on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Daiwa Capital Markets set a $917.00 target price on Equinix and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $959.64.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.