Perigon Wealth Management LLC Reduces Stock Holdings in Equinix Inc (NASDAQ:EQIX)

Perigon Wealth Management LLC trimmed its holdings in shares of Equinix Inc (NASDAQ:EQIX) by 23.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 370 shares of the financial services provider’s stock after selling 116 shares during the period. Perigon Wealth Management LLC’s holdings in Equinix were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EQIX. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Equinix by 85.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 858,230 shares of the financial services provider’s stock worth $536,025,000 after buying an additional 396,675 shares during the last quarter. Girard Partners LTD. grew its stake in Equinix by 9,842.2% during the 1st quarter. Girard Partners LTD. now owns 343,304 shares of the financial services provider’s stock worth $2,459,000 after buying an additional 339,851 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Equinix by 20.5% during the 1st quarter. Nuveen Asset Management LLC now owns 1,211,869 shares of the financial services provider’s stock worth $756,896,000 after buying an additional 206,455 shares during the last quarter. Capital Research Global Investors grew its stake in Equinix by 22.4% during the 1st quarter. Capital Research Global Investors now owns 931,442 shares of the financial services provider’s stock worth $581,751,000 after buying an additional 170,247 shares during the last quarter. Finally, Zimmer Partners LP grew its stake in Equinix by 316.7% during the 1st quarter. Zimmer Partners LP now owns 218,750 shares of the financial services provider’s stock worth $136,625,000 after buying an additional 166,250 shares during the last quarter. Hedge funds and other institutional investors own 93.48% of the company’s stock.

NASDAQ EQIX opened at $785.48 on Friday. The stock has a market capitalization of $67.49 billion, a price-to-earnings ratio of 136.13, a PEG ratio of 2.47 and a beta of 0.41. Equinix Inc has a twelve month low of $477.87 and a twelve month high of $787.70. The company has a current ratio of 1.55, a quick ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $714.15 and a 200 day moving average of $653.86.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $5.40 by ($3.88). Equinix had a net margin of 8.69% and a return on equity of 5.43%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $1.69 EPS. Equinix’s revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that Equinix Inc will post 21.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $2.66 per share. The ex-dividend date is Tuesday, August 18th. This represents a $10.64 dividend on an annualized basis and a dividend yield of 1.35%. Equinix’s payout ratio is currently 46.65%.

Several analysts have weighed in on EQIX shares. SunTrust Banks boosted their price target on Equinix from $750.00 to $820.00 and gave the company a “buy” rating in a research note on Thursday. Barclays boosted their price target on Equinix from $821.00 to $876.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley boosted their price target on Equinix from $584.00 to $670.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Edward Jones started coverage on Equinix in a research note on Tuesday, July 14th. They set a “buy” rating on the stock. Finally, Wells Fargo & Co boosted their price target on Equinix from $790.00 to $840.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $765.16.

In other news, insider Brandi Galvin Morandi sold 1,363 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $672.47, for a total value of $916,576.61. Following the completion of the sale, the insider now directly owns 19,626 shares in the company, valued at $13,197,896.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adaire Fox-Martin sold 58 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $713.42, for a total value of $41,378.36. Following the completion of the sale, the director now owns 193 shares of the company’s stock, valued at $137,690.06. The disclosure for this sale can be found here. Insiders have sold 5,041 shares of company stock valued at $3,437,707 in the last three months. Insiders own 0.51% of the company’s stock.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

Further Reading: Outperform Rating

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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