Comgest Global Investors S.A.S. Has $3.66 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Comgest Global Investors S.A.S. cut its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 46.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,843 shares of the financial services provider's stock after selling 4,258 shares during the quarter. Comgest Global Investors S.A.S.'s holdings in Equinix were worth $3,664,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CNB Bank boosted its stake in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider's stock worth $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the second quarter worth approximately $30,000. LRI Investments LLC bought a new stake in shares of Equinix during the 1st quarter worth approximately $31,000. Rise Advisors LLC purchased a new position in Equinix in the 1st quarter worth about $39,000. Finally, UMB Bank n.a. increased its holdings in Equinix by 30.0% during the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider's stock worth $54,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Stock Performance

EQIX stock traded down $2.21 during midday trading on Tuesday, hitting $832.15. 402,397 shares of the stock traded hands, compared to its average volume of 551,205. The stock's fifty day simple moving average is $794.62 and its 200-day simple moving average is $794.50. The firm has a market cap of $78.98 billion, a P/E ratio of 83.54, a PEG ratio of 2.03 and a beta of 0.68. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.04 EPS. On average, analysts expect that Equinix, Inc. will post 31.04 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix's payout ratio is 170.91%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company raised Equinix from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Royal Bank of Canada decreased their price target on shares of Equinix from $950.00 to $922.00 and set an "outperform" rating for the company in a research report on Tuesday, May 28th. Truist Financial upped their target price on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research report on Wednesday, August 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Equinix in a research note on Monday, July 1st. They issued a "buy" rating and a $870.00 target price for the company. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Equinix has a consensus rating of "Moderate Buy" and an average target price of $876.71.

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.