Taylor Frigon Capital Management LLC Sells 55 Shares of Equinix, Inc. (NASDAQ:EQIX)

Taylor Frigon Capital Management LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,315 shares of the financial services provider’s stock after selling 55 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Equinix were worth $2,055,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. boosted its holdings in shares of Equinix by 7,355.6% in the 1st quarter. Sunbelt Securities Inc. now owns 671 shares of the financial services provider’s stock worth $553,000 after buying an additional 662 shares during the last quarter. Brookmont Capital Management purchased a new position in Equinix in the first quarter valued at about $2,894,000. AMF Tjanstepension AB grew its position in shares of Equinix by 87.4% during the 1st quarter. AMF Tjanstepension AB now owns 308,991 shares of the financial services provider’s stock valued at $255,114,000 after acquiring an additional 144,093 shares during the period. Harbour Capital Advisors LLC increased its stake in shares of Equinix by 13.3% during the 1st quarter. Harbour Capital Advisors LLC now owns 2,990 shares of the financial services provider’s stock worth $2,370,000 after purchasing an additional 352 shares during the last quarter. Finally, OneAscent Wealth Management LLC raised its holdings in shares of Equinix by 31.8% in the 1st quarter. OneAscent Wealth Management LLC now owns 464 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 112 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

NASDAQ:EQIX traded up $2.21 during trading hours on Thursday, hitting $893.37. 60,366 shares of the company’s stock traded hands, compared to its average volume of 524,718. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market cap of $84.79 billion, a P/E ratio of 89.38, a P/E/G ratio of 2.13 and a beta of 0.71. The business’s fifty day simple moving average is $858.53 and its two-hundred day simple moving average is $799.63.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share 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 company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the business earned $8.04 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Wednesday, August 21st. Equinix’s payout ratio is currently 170.91%.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EQIX has been the subject of several research reports. Wells Fargo & Company increased their price objective on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Evercore ISI lifted their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday. Mizuho boosted their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $918.40.

About Equinix

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.