GDS Wealth Management Cuts Holdings in Equinix, Inc. (NASDAQ:EQIX)

GDS Wealth Management decreased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 403 shares of the financial services provider’s stock after selling 58 shares during the period. GDS Wealth Management’s holdings in Equinix were worth $305,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Swedbank AB bought a new stake in Equinix in the 1st quarter worth approximately $294,526,000. Principal Financial Group Inc. boosted its stake 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 worth $1,428,606,000 after buying an additional 238,883 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 worth $10,319,917,000 after acquiring an additional 238,815 shares during the period. M&G Plc purchased a new stake in Equinix during the first quarter valued at $187,089,000. Finally, Quadrature Capital Ltd bought a new position in Equinix in the first quarter valued at about $145,308,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft boosted their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Royal Bank of Canada reduced 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. Truist Financial increased their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Finally, TD Cowen raised their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $883.71.

Insider Activity at Equinix

In other news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s 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 in the company, valued at approximately $7,729,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of the company’s 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 sale, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,043 shares of company stock valued at $8,282,119. Insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.6 %

Shares of EQIX opened at $876.57 on Tuesday. The firm has a market cap of $83.19 billion, a P/E ratio of 87.92, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a 50 day simple moving average of $813.86 and a two-hundred day simple moving average of $792.77.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $8.04 earnings per share. On average, equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.94%. Equinix’s dividend payout ratio is currently 170.91%.

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.