Chicago Partners Investment Group LLC Lowers Stake in Equinix, Inc. (NASDAQ:EQIX)

Chicago Partners Investment Group LLC reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.4% in the first quarter, HoldingsChannel reports. The fund owned 265 shares of the financial services provider’s stock after selling 18 shares during the period. Chicago Partners Investment Group LLC’s holdings in Equinix were worth $231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock worth $725,957,000 after acquiring an additional 889,282 shares during the period. Northern Trust Corp grew its stake in shares of Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the period. Vanguard Group Inc. grew its position in Equinix by 1.9% during the first 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. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Equinix during the fourth quarter valued at approximately $205,641,000. Finally, Janus Henderson Group PLC grew its position in Equinix by 45.0% during the fourth quarter. Janus Henderson Group PLC now owns 535,847 shares of the financial services provider’s stock valued at $505,280,000 after buying an additional 166,206 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director owned 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, the chief executive officer directly owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Equinix Stock Up 1.4%

EQIX stock opened at $787.32 on Wednesday. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $77.05 billion, a PE ratio of 77.11, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. The firm has a 50 day moving average of $816.55 and a 200 day moving average of $846.16.

Equinix (NASDAQ:EQIX) last posted 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 company 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%. Equinix’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $9.22 EPS. Sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix’s payout ratio is 183.74%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EQIX shares. UBS Group cut their target price on shares of Equinix from $1,035.00 to $950.00 and set a “buy” rating for the company in a research report on Friday, July 11th. BNP Paribas raised shares of Equinix to a “strong-buy” rating in a research note on Thursday, May 1st. Truist Financial increased their target price on shares of Equinix from $904.00 to $961.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research note on Tuesday, July 22nd. Finally, New Street Research raised shares of Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Five analysts have rated the stock with a hold rating, twenty have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $959.86.

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.