Miracle Mile Advisors LLC Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Miracle Mile Advisors LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 12,370 shares of the financial services provider’s stock after selling 205 shares during the period. Miracle Mile Advisors LLC’s holdings in Equinix were worth $10,086,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EQIX. Norges Bank purchased a new stake in shares of Equinix during the 4th quarter worth $1,067,270,000. GAMMA Investing LLC lifted its position in shares of Equinix by 82,340.9% during the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock worth $725,957,000 after purchasing an additional 889,282 shares during the last quarter. Northern Trust Corp lifted its position in shares of Equinix by 65.3% during the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the last quarter. Wellington Management Group LLP lifted its position in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Equinix in the fourth quarter valued at $328,899,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Up 0.5%

Shares of Equinix stock opened at $914.43 on Friday. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company’s 50-day simple moving average is $839.65 and its 200-day simple moving average is $890.49. The firm has a market cap of $89.45 billion, a price-to-earnings ratio of 106.95, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business posted $8.86 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.05%. Equinix’s dividend payout ratio (DPR) is 195.01%.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider now directly owns 1,842 shares in the company, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EQIX shares. Wells Fargo & Company reduced their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. BNP Paribas raised shares of Equinix to a “strong-buy” rating in a research report on Thursday, May 1st. New Street Research raised shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. TD Securities boosted their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Mizuho reduced their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and six have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $1,004.80.

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.