Stonegate Investment Group LLC Has $391,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Stonegate Investment Group LLC trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440 shares of the financial services provider’s stock after selling 34 shares during the quarter. Stonegate Investment Group LLC’s holdings in Equinix were worth $391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQIX. Swedbank AB acquired a new position in shares of Equinix during the first quarter worth $294,526,000. Principal Financial Group Inc. grew its position in shares of Equinix by 14.5% in the 2nd 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 buying an additional 238,883 shares during the last quarter. Vanguard Group Inc. increased its stake 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 buying an additional 238,815 shares during the period. M&G Plc acquired a new position in shares of Equinix in the first quarter worth approximately $187,089,000. Finally, Quadrature Capital Ltd acquired a new stake in Equinix during the 1st quarter valued at approximately $145,308,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of EQIX opened at $895.20 on Friday. The firm has a market capitalization of $84.96 billion, a P/E ratio of 89.79, a P/E/G ratio of 2.13 and a beta of 0.71. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The stock has a 50 day moving average price of $855.35 and a two-hundred day moving average price of $797.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

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

Equinix Announces Dividend

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

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on EQIX. TD Cowen increased their price objective 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. Cfra reissued a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, The Goldman Sachs Group increased their price target on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. 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 company. Based on data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus target price 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.