First National Bank of Mount Dora Trust Investment Services Trims Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

First National Bank of Mount Dora Trust Investment Services trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 28.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,241 shares of the financial services provider’s stock after selling 486 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Equinix were worth $1,012,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Equinix by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock worth $11,941,418,000 after purchasing an additional 88,654 shares during the period. Geode Capital Management LLC increased its holdings in Equinix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock worth $2,269,037,000 after purchasing an additional 62,005 shares during the period. FMR LLC increased its holdings in Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock worth $2,135,606,000 after purchasing an additional 81,144 shares during the period. Principal Financial Group Inc. increased its holdings in Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Equinix by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider’s stock worth $1,793,429,000 after purchasing an additional 14,294 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of EQIX stock opened at $907.48 on Tuesday. The stock has a market cap of $88.77 billion, a PE ratio of 106.14, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The business has a 50-day simple moving average of $841.17 and a 200-day simple moving average of $890.04. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.86 EPS. On average, equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.07%. Equinix’s payout ratio is 195.01%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Oppenheimer raised their price objective on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Friday, May 23rd. Citigroup lifted their price target on Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a report on Monday, May 5th. Wolfe Research downgraded Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday. Finally, TD Securities lifted their price target on Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $1,004.80.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, the chief executive officer now directly owns 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider now owns 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is owned by company insiders.

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.