Procyon Advisors LLC Sells 91 Shares of Equinix, Inc. (NASDAQ:EQIX)

Procyon Advisors LLC trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 23.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 291 shares of the financial services provider’s stock after selling 91 shares during the period. Procyon Advisors LLC’s holdings in Equinix were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of EQIX. Swedbank AB purchased a new stake in Equinix in the 1st quarter worth about $294,526,000. Principal Financial Group Inc. increased its stake in shares of Equinix by 14.5% in 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 position in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. M&G Plc purchased a new stake in shares of Equinix during the 1st quarter valued at approximately $187,089,000. Finally, Quadrature Capital Ltd bought a new position in Equinix in the 1st quarter worth approximately $145,308,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of analyst reports. Truist Financial boosted their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised 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 report on Tuesday, July 23rd. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $907.21.

Insider Buying and Selling at Equinix

In other news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Equinix news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 over the last three months. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

EQIX opened at $880.20 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 stock has a market capitalization of $83.54 billion, a P/E ratio of 88.28, a PEG ratio of 2.13 and a beta of 0.71. The stock has a 50-day moving average price of $852.23 and a 200-day moving average price of $796.23. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93.

Equinix (NASDAQ:EQIX) last issued its 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). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $8.04 EPS. Equities analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 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.