Mogy Joel R Investment Counsel Inc. Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

Mogy Joel R Investment Counsel Inc. lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 28.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,403 shares of the financial services provider’s stock after selling 1,784 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Equinix were worth $3,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CNB Bank boosted its holdings in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix during the second quarter worth about $30,000. LRI Investments LLC purchased a new stake in Equinix in the first quarter worth about $31,000. Meeder Asset Management Inc. bought a new position in shares of Equinix during the second quarter valued at approximately $36,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $895.20 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The firm has a market capitalization of $84.96 billion, a price-to-earnings ratio of 89.79, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. The firm has a 50 day moving average of $855.35 and a 200 day moving average of $797.53.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $8.04 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. Equinix’s payout ratio is currently 170.91%.

Insider Activity at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The shares were 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 of the company’s stock, valued at $4,559,334.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EQIX shares. Wells Fargo & Company raised their price objective on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday. HSBC raised Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. The Goldman Sachs Group increased their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. TD Cowen lifted 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. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $914.36.

Equinix Company 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.