Lyell Wealth Management LP Reduces Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Lyell Wealth Management LP lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 48.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,319 shares of the financial services provider’s stock after selling 1,242 shares during the quarter. Lyell Wealth Management LP’s holdings in Equinix were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased 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 valued at $10,319,917,000 after buying an additional 238,815 shares during the last quarter. Cohen & Steers Inc. raised its holdings in Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after purchasing an additional 13,988 shares during the period. Norges Bank purchased a new position in Equinix during the fourth quarter valued at $1,574,132,000. Principal Financial Group Inc. grew 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 valued at $1,428,606,000 after purchasing an additional 238,883 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after buying an additional 47,795 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of the 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 approximately $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock valued at $8,282,119 in the last ninety days. Insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.3 %

Shares of EQIX opened at $871.54 on Friday. The business’s 50 day simple moving average is $811.47 and its 200-day simple moving average is $793.54. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $82.74 billion, a price-to-earnings ratio of 87.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 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 net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $8.04 EPS. As a group, equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed 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 is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.96%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Analyst Ratings Changes

A number of research analysts recently issued reports on EQIX shares. Barclays boosted their price objective on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. Royal Bank of Canada dropped their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, Truist Financial raised their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $883.71.

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.