NorthRock Partners LLC Sells 83 Shares of Equinix, Inc. (NASDAQ:EQIX)

NorthRock Partners LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 17.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 389 shares of the financial services provider’s stock after selling 83 shares during the quarter. NorthRock Partners LLC’s holdings in Equinix were worth $345,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in Equinix in the first quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the second quarter worth $30,000. GHP Investment Advisors Inc. lifted its position in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC lifted its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its position in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after buying an additional 20 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, 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 owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, 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 owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,632 shares of company stock valued at $10,633,777. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Mizuho increased their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. The Goldman Sachs Group increased their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Truist Financial increased their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Barclays increased their target price on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $944.63.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $908.99 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $87.71 billion, a PE ratio of 81.96, a P/E/G ratio of 2.14 and a beta of 0.71. The business has a 50-day simple moving average of $872.92 and a two-hundred day simple moving average of $808.98. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02.

Equinix (NASDAQ:EQIX) last issued its quarterly 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 business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Equinix’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $8.04 EPS. As a group, equities analysts expect that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

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.