Rhumbline Advisers Decreases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Rhumbline Advisers decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,165 shares of the financial services provider's stock after selling 3,318 shares during the period. Rhumbline Advisers owned about 0.21% of Equinix worth $147,662,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CNB Bank raised its stake in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the second quarter valued at $30,000. LRI Investments LLC bought a new position in shares of Equinix during the first quarter valued at $31,000. Rise Advisors LLC bought a new position in shares of Equinix during the first quarter valued at $39,000. Finally, UMB Bank n.a. raised its stake in shares of Equinix by 30.0% during the first quarter. UMB Bank n.a. now owns 65 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 15 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

EQIX has been the subject of a number of analyst reports. TD Cowen lifted their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. The Goldman Sachs Group began coverage on shares of Equinix in a research note on Monday, July 1st. They set a "buy" rating and a $870.00 target price for the company. Mizuho began coverage on shares of Equinix in a report on Thursday, July 11th. They issued an "outperform" rating and a $873.00 price target for the company. Truist Financial raised their price target 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, Wells Fargo & Company upgraded shares of Equinix from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $876.71.

Equinix Stock Performance

Equinix stock traded down $4.56 during midday trading on Wednesday, reaching $827.59. The stock had a trading volume of 586,292 shares, compared to its average volume of 551,411. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The firm has a market capitalization of $78.54 billion, a PE ratio of 83.47, a P/E/G ratio of 2.03 and a beta of 0.68. The firm's 50-day moving average price is $796.41 and its 200 day moving average price is $794.33.

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

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, August 21st. Equinix's payout ratio is currently 170.91%.

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.