Middleton & Co. Inc. MA Has $8.98 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Middleton & Co. Inc. MA lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.5% during the second quarter, HoldingsChannel reports. The firm owned 11,874 shares of the financial services provider’s stock after selling 305 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Equinix were worth $8,984,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CNB Bank increased its holdings in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Equinix during the first quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the second quarter worth about $30,000. Rise Advisors LLC acquired a new stake in Equinix in the 1st quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. bought a new stake in Equinix in the 2nd quarter valued at approximately $36,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The transaction was disclosed in a document filed 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 shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock valued at $8,282,119 in the last three months. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. TD Cowen raised their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Mizuho boosted their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group initiated coverage on Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 target price on the stock. Six investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $860.95 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $81.71 billion, a P/E ratio of 86.35, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The stock has a 50 day moving average of $817.51 and a 200-day moving average of $792.99.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results 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). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $8.04 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.98%. Equinix’s dividend payout ratio (DPR) is currently 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.