Boston Financial Mangement LLC Sells 3,567 Shares of Equinix, Inc. (NASDAQ:EQIX)

Boston Financial Mangement LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 48.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,737 shares of the financial services provider's stock after selling 3,567 shares during the quarter. Boston Financial Mangement LLC's holdings in Equinix were worth $2,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQIX. CNB Bank boosted its position in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider's stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the 2nd quarter worth about $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the 1st quarter worth about $31,000. Rise Advisors LLC acquired a new stake in shares of Equinix in the 1st quarter worth about $39,000. Finally, Rational Advisors LLC acquired a new stake in shares of Equinix in the 1st quarter worth about $53,000. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

EQIX has been the topic of a number of analyst reports. TD Cowen upped their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Wells Fargo & Company upgraded shares of Equinix from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Mizuho initiated coverage on shares of Equinix in a report on Thursday, July 11th. They issued an "outperform" rating and a $873.00 target price on the stock. Truist Financial upped their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Equinix currently has a consensus rating of "Moderate Buy" and an average target price of $876.71.

Equinix Stock Performance

EQIX stock traded up $15.62 during midday trading on Friday, reaching $834.36. 520,987 shares of the company's stock traded hands, compared to its average volume of 552,091. The firm has a market capitalization of $79.19 billion, a PE ratio of 83.69, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The company has a 50-day moving average price of $791.59 and a two-hundred day moving average price of $795.42. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 11.32% and a return on equity of 7.73%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.04 earnings per share. As a group, equities analysts anticipate that Equinix, Inc. will post 31.23 EPS for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.04%. Equinix's dividend payout ratio (DPR) is currently 170.91%.

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.

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