Mogy Joel R Investment Counsel Inc. Sells 20 Shares of Equinix, Inc. (NASDAQ:EQIX)

Mogy Joel R Investment Counsel Inc. lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,365 shares of the financial services provider’s stock after selling 20 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Equinix were worth $3,559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Brighton Jones LLC boosted its holdings in shares of Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 73 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Equinix during the fourth quarter valued at approximately $362,000. Empowered Funds LLC boosted its stake in Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares during the last quarter. Savant Capital LLC grew its holdings in Equinix by 5.1% during the 4th quarter. Savant Capital LLC now owns 1,108 shares of the financial services provider’s stock valued at $1,045,000 after buying an additional 54 shares in the last quarter. Finally, Sapient Capital LLC increased its stake in Equinix by 6.0% in the 4th quarter. Sapient Capital LLC now owns 301 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 9,615 shares of the company’s stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock valued at $2,808,008 over the last ninety days. 0.27% of the stock is owned by company insiders.

Equinix Price Performance

Shares of EQIX stock opened at $893.70 on Thursday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a fifty day simple moving average of $845.84 and a two-hundred day simple moving average of $890.18. The stock has a market capitalization of $87.42 billion, a price-to-earnings ratio of 104.53, a P/E/G ratio of 1.78 and a beta of 0.97.

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

Equinix Dividend Announcement

The firm also recently disclosed 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 is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.10%. Equinix’s dividend payout ratio is presently 195.01%.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on 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. Bank of America initiated coverage on shares of Equinix in a research note on Monday, May 19th. They set a “buy” rating and a $1,000.00 price target on the stock. Citigroup increased their price objective on shares of Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Wolfe Research downgraded shares of Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday. Finally, Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $1,004.80.

Equinix 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.