Los Angeles Capital Management LLC Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Los Angeles Capital Management LLC reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 46.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,674 shares of the financial services provider’s stock after selling 6,525 shares during the period. Los Angeles Capital Management LLC’s holdings in Equinix were worth $5,806,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EQIX. CNB Bank raised its holdings in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix during the 2nd quarter worth about $30,000. LRI Investments LLC purchased a new stake in Equinix during the 1st quarter valued at about $31,000. Rise Advisors LLC acquired a new position in shares of Equinix in the first quarter valued at about $39,000. Finally, UMB Bank n.a. raised its stake in shares of Equinix by 30.0% in the first quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 15 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. Insiders sold 9,179 shares of company stock worth $7,547,719 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on EQIX. The Goldman Sachs Group started coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. TD Cowen raised their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Barclays lifted their price target on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Mizuho began coverage on Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price objective on the stock. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus target price of $876.71.

Equinix Price Performance

Shares of Equinix stock opened at $831.80 on Tuesday. The stock has a market capitalization of $78.97 billion, a P/E ratio of 83.43, a PEG ratio of 1.99 and a beta of 0.71. The business has a 50 day simple moving average of $802.19 and a two-hundred day simple moving average of $793.22. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.04 EPS. As a group, analysts predict that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

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.