Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 40.2% during the 1st quarter, Holdings Channel reports. The fund owned 2,597 shares of the financial services provider’s stock after selling 1,746 shares during the period. Lincluden Management Ltd.’s holdings in Equinix were worth $2,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EQIX. Pinney & Scofield Inc. acquired a new position in shares of Equinix in the fourth quarter valued at $28,000. Pacific Center for Financial Services lifted its position in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after buying an additional 15 shares during the last quarter. Whipplewood Advisors LLC raised its position in Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 23 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider’s stock valued at $34,000 after buying an additional 12 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Equinix in the fourth quarter worth about $49,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the 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 transaction, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider owned 1,842 shares in the company, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Guggenheim initiated coverage on Equinix in a report on Thursday, July 10th. They set a “buy” rating and a $933.00 price target for the company. Truist Financial reduced their price target on shares of Equinix from $986.00 to $904.00 and set a “buy” rating for the company in a report on Tuesday, July 1st. TD Securities boosted their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a report on Thursday, May 1st. UBS Group lowered their target price on Equinix from $1,035.00 to $950.00 and set a “buy” rating for the company in a research report on Friday, July 11th. Finally, BMO Capital Markets lowered shares of Equinix from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $1,045.00 to $850.00 in a research note on Thursday, June 26th. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $957.05.

Equinix Stock Performance

Shares of EQIX traded down $5.85 during midday trading on Thursday, reaching $790.37. 28,006 shares of the stock were exchanged, compared to its average volume of 643,886. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The stock’s 50 day simple moving average is $841.92 and its 200 day simple moving average is $860.13. The company has a market cap of $77.31 billion, a P/E ratio of 82.51, a PEG ratio of 1.48 and a beta of 0.93.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the firm earned $8.86 earnings per share. Equinix’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were issued a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.37%. Equinix’s dividend payout ratio (DPR) is 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.