Sequoia Financial Advisors LLC Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Sequoia Financial Advisors LLC raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,671 shares of the financial services provider’s stock after buying an additional 163 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Equinix were worth $1,265,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Cohen & Steers Inc. grew its holdings in Equinix by 0.5% during the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after buying an additional 13,988 shares in the last quarter. Norges Bank purchased a new position in Equinix during the 4th quarter valued at about $1,574,132,000. Principal Financial Group Inc. grew its holdings in Equinix by 14.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock valued at $1,361,224,000 after buying an additional 213,740 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after buying an additional 47,795 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

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

Equinix Trading Up 0.9 %

EQIX stock traded up $7.61 during midday trading on Tuesday, hitting $826.70. The company had a trading volume of 104,705 shares, compared to its average volume of 564,016. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The stock’s 50 day moving average price is $775.71 and its 200 day moving average price is $796.14. The stock has a market cap of $78.46 billion, a price-to-earnings ratio of 82.16, a PEG ratio of 2.80 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 11.32% and a return on equity of 7.73%. Equinix’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.04 EPS. As a group, equities research analysts expect that Equinix, Inc. will post 31.23 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.06%. Equinix’s dividend payout ratio is presently 170.91%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EQIX. Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday. Mizuho began coverage on Equinix in a report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price objective for the company. TD Cowen boosted their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group began coverage on Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Finally, Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $877.79.

About Equinix

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.