Easterly Investment Partners LLC Trims Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Easterly Investment Partners LLC lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 80.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,520 shares of the financial services provider's stock after selling 14,818 shares during the period. Easterly Investment Partners LLC's holdings in Equinix were worth $3,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix during the second quarter valued at $30,000. LRI Investments LLC purchased a new stake in shares of Equinix in the 1st quarter worth $31,000. GHP Investment Advisors Inc. raised its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $36,000. Institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several research reports. HSBC upgraded Equinix from a "hold" rating to a "buy" rating and lifted their price target for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. TD Cowen raised their price target on Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Barclays lifted their price target on Equinix from $671.00 to $810.00 and gave the stock an "equal weight" rating in a research note on Monday, October 28th. Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets raised their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $944.63.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $13.32 during trading on Friday, hitting $921.06. 535,931 shares of the stock were exchanged, compared to its average volume of 528,401. The company has a market cap of $88.87 billion, a PE ratio of 83.05, a P/E/G ratio of 2.15 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average price of $877.98 and a two-hundred day moving average price of $811.39. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.04 earnings per share. On average, analysts forecast that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, November 13th. Equinix's dividend payout ratio (DPR) is presently 153.65%.

Insiders Place Their Bets

In other news, EVP Scott Crenshaw sold 1,107 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Scott Crenshaw sold 1,107 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Simon Miller sold 569 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares of the company's stock, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,632 shares of company stock valued at $10,633,777. Insiders own 0.27% of the company's stock.

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.