Coldstream Capital Management Inc. Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Coldstream Capital Management Inc. lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 8.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,247 shares of the financial services provider’s stock after selling 110 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Equinix were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EQIX. Norges Bank purchased a new position in Equinix in the fourth quarter worth approximately $1,574,132,000. Swedbank AB acquired a new stake in Equinix during the first quarter worth approximately $294,526,000. Principal Financial Group Inc. raised its holdings in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Vanguard Group Inc. raised its holdings in Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. Finally, M&G Plc acquired a new stake in Equinix during the first quarter worth approximately $187,089,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $867.70 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $82.35 billion, a P/E ratio of 87.03, a P/E/G ratio of 1.99 and a beta of 0.71. The company’s fifty day moving average is $806.73 and its two-hundred day moving average is $793.62. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93.

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

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.96%. Equinix’s payout ratio is currently 170.91%.

Analysts Set New Price Targets

A number of research firms have weighed in on EQIX. Mizuho began coverage on shares of Equinix in a report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price objective on the stock. Royal Bank of Canada cut their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. TD Cowen raised their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Barclays lifted their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $876.71.

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.