CapWealth Advisors LLC Sells 76 Shares of Equinix, Inc. (NASDAQ:EQIX)

CapWealth Advisors LLC cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,224 shares of the financial services provider’s stock after selling 76 shares during the period. Equinix makes up 2.1% of CapWealth Advisors LLC’s portfolio, making the stock its 21st largest position. CapWealth Advisors LLC’s holdings in Equinix were worth $16,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EQIX. CNB Bank lifted its stake in Equinix by 172.7% in the first 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. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix during the second quarter valued at $30,000. LRI Investments LLC bought a new stake in shares of Equinix in the first quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in Equinix in the 1st quarter worth approximately $39,000. Finally, UMB Bank n.a. grew its holdings in shares of Equinix by 30.0% in the first quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 15 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, CAO Simon Miller sold 569 shares of the company’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 transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders have sold a total of 7,472 shares of company stock valued at $6,154,812 in the last 90 days. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $821.74 on Friday. 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 firm has a market cap of $77.99 billion, a PE ratio of 82.42, a price-to-earnings-growth ratio of 2.03 and a beta of 0.68. The firm’s 50 day simple moving average is $799.52 and its 200-day simple moving average is $794.75. Equinix, Inc. has a one year low of $677.80 and a one year 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 business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.04 earnings per share. As a group, equities analysts predict that Equinix, Inc. will post 31.04 EPS for the current year.

Equinix Dividend Announcement

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 paid a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 2.07%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. TD Cowen boosted their target price 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 increased their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Finally, Mizuho initiated coverage on Equinix in a report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.