Freemont Management S.A. Has $605,000 Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Freemont Management S.A. decreased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 83.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 800 shares of the financial services provider's stock after selling 4,000 shares during the quarter. Freemont Management S.A.'s holdings in Equinix were worth $605,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. CNB Bank grew its holdings in shares of Equinix by 172.7% in 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix during the 2nd quarter worth about $30,000. LRI Investments LLC bought a new stake in Equinix during the 1st quarter worth about $31,000. Rise Advisors LLC bought a new stake in Equinix during the 1st quarter worth about $39,000. Finally, UMB Bank n.a. grew 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 acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Equinix

In other news, CAO Simon Miller sold 569 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company's stock, valued at approximately $4,559,334.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Equinix news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now directly owns 7,141 shares of the company's stock, valued at $5,862,689.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company's stock, valued at $4,559,334.14. The disclosure for this sale can be found here. Insiders sold 9,179 shares of company stock valued at $7,547,719 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Up 1.7 %

EQIX stock traded up $13.84 during mid-day trading on Monday, hitting $831.80. 430,096 shares of the company were exchanged, compared to its average volume of 548,909. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $78.97 billion, a P/E ratio of 83.10, a P/E/G ratio of 1.99 and a beta of 0.71. The firm's 50 day simple moving average is $800.75 and its 200 day simple moving average is $793.56. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93.

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 for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business 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%. Equinix's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $8.04 earnings per share. On average, sell-side analysts predict that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have commented on EQIX shares. Truist Financial increased their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. Royal Bank of Canada reduced their target price on shares of Equinix from $950.00 to $922.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 28th. The Goldman Sachs Group initiated coverage on shares of Equinix in a research note on Monday, July 1st. They issued a "buy" rating and a $870.00 target price on the stock. Finally, Barclays raised their target price on shares of Equinix from $669.00 to $671.00 and gave the company an "equal weight" rating in a research note on Thursday, May 30th. Six 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 an average rating of "Moderate Buy" and a consensus price target of $876.71.

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.