Equinix Inc (NASDAQ:EQIX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in Equinix Inc (NASDAQ:EQIX) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,101 shares of the financial services provider’s stock after selling 689 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Equinix were worth $10,057,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Atwood & Palmer Inc. acquired a new position in shares of Equinix in the first quarter worth about $25,000. Stonebridge Financial Planning Group LLC acquired a new position in shares of Equinix in the first quarter worth about $28,000. Princeton Global Asset Management LLC acquired a new position in shares of Equinix in the fourth quarter worth about $26,000. Savior LLC acquired a new position in shares of Equinix in the fourth quarter worth about $32,000. Finally, Retirement Network acquired a new position in shares of Equinix in the first quarter worth about $40,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

In related news, CAO Simon Miller sold 299 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $568.52, for a total value of $169,987.48. Following the completion of the transaction, the chief accounting officer now directly owns 2,283 shares of the company’s stock, valued at approximately $1,297,931.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 1,363 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $672.47, for a total value of $916,576.61. Following the completion of the transaction, the insider now directly owns 19,626 shares of the company’s stock, valued at $13,197,896.22. The disclosure for this sale can be found here. Insiders sold a total of 14,139 shares of company stock valued at $8,350,415 over the last three months. Corporate insiders own 0.49% of the company’s stock.

Several research firms recently commented on EQIX. ValuEngine upgraded Equinix from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. UBS Group boosted their price target on Equinix from $630.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Co upped their price objective on Equinix from $675.00 to $745.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Royal Bank of Canada upped their price objective on Equinix from $688.00 to $706.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Raymond James cut Equinix from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, April 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $684.89.

Shares of Equinix stock opened at $670.02 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.44. The business’s 50 day simple moving average is $668.64 and its 200-day simple moving average is $604.02. The stock has a market capitalization of $55.37 billion, a price-to-earnings ratio of 112.80, a PEG ratio of 1.41 and a beta of 0.43. Equinix Inc has a twelve month low of $471.80 and a twelve month high of $715.75.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $5.40 by ($4.02). The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Equinix had a return on equity of 5.80% and a net margin of 9.00%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.95 earnings per share. Sell-side analysts predict that Equinix Inc will post 21.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 20th will be given a dividend of $2.66 per share. This represents a $10.64 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, May 19th. Equinix’s payout ratio is 46.65%.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

Read More: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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