Dorsey & Whitney Trust CO LLC Grows Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Dorsey & Whitney Trust CO LLC boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 18.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 827 shares of the financial services provider’s stock after acquiring an additional 126 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Equinix were worth $626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CNB Bank boosted its holdings in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares during the period. LRI Investments LLC purchased a new position in shares of Equinix during the 1st quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Equinix during the 2nd quarter valued at approximately $30,000. Rise Advisors LLC purchased a new position in shares of Equinix during the 1st quarter valued at approximately $39,000. Finally, UMB Bank n.a. boosted its stake in shares of Equinix by 30.0% during the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock valued at $54,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction 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 directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Mizuho initiated coverage on Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. TD Cowen raised their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $876.71.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $867.70 on Thursday. Equinix, Inc. has a 1-year low of $677.80 and a 1-year 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. The business’s fifty day moving average price is $806.73 and its two-hundred day moving average price is $793.62. The firm has a market capitalization of $82.35 billion, a PE ratio of 87.03, a P/E/G ratio of 1.99 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $8.04 earnings per share. On average, research analysts expect that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Equinix 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.