Allspring Global Investments Holdings LLC Lowers Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Allspring Global Investments Holdings LLC decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 67.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,344 shares of the financial services provider’s stock after selling 32,382 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Equinix were worth $12,535,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new stake in shares of Equinix in the 4th quarter valued at about $28,000. Pacific Center for Financial Services lifted its stake in shares of Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 15 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 23 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Equinix in the 4th quarter valued at about $39,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Equinix in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer owned 9,615 shares of the company’s stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider directly owned 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Down 1.0%

Shares of NASDAQ:EQIX opened at $787.50 on Friday. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The firm has a market capitalization of $77.03 billion, a P/E ratio of 81.86, a P/E/G ratio of 1.14 and a beta of 0.93. The stock has a 50 day moving average price of $866.92 and a 200-day moving average price of $876.38. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the company earned $8.86 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their target price on Equinix from $1,020.00 to $880.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America lowered their target price on Equinix from $1,000.00 to $950.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Cowen reissued a “buy” rating on shares of Equinix in a research note on Thursday. Scotiabank lowered their target price on Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating for the company in a research note on Thursday, June 26th. Finally, Barclays upped their price target on Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $960.55.

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.