Stock Yards Bank & Trust Co. Has $11.99 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Stock Yards Bank & Trust Co. decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,708 shares of the financial services provider’s stock after selling 145 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Equinix were worth $11,992,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC grew its holdings in shares of Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Equinix by 3.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 11 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 12 shares in the last quarter. First Financial Bankshares Inc grew its holdings in shares of Equinix by 0.5% in the 4th quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider’s stock valued at $2,329,000 after acquiring an additional 13 shares in the last quarter. Finally, Nemes Rush Group LLC grew its holdings in shares of Equinix by 18.3% in the 4th quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EQIX shares. Stifel Nicolaus raised their price objective on Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Truist Financial reduced their price target on Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a report on Monday, May 12th. Barclays lifted their price target on Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 27th. Wolfe Research cut Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Finally, Bank of America assumed coverage on Equinix in a report on Monday, May 19th. They set a “buy” rating and a $1,000.00 price target for the company. Three investment 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’s stock. According to MarketBeat, Equinix has a consensus rating of “Buy” and a consensus price target of $1,004.80.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value 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 $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the stock in a transaction on 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 sale, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,176 shares of company stock worth $2,808,008. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Down 0.4%

Shares of NASDAQ:EQIX opened at $892.64 on Friday. The company has a fifty day moving average of $851.86 and a 200-day moving average of $889.06. The company has a market capitalization of $87.32 billion, a PE ratio of 104.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03.

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

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.10%. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

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.