Daiwa Securities Group Inc. Sells 120,300 Shares of Equinix, Inc. (NASDAQ:EQIX)

Daiwa Securities Group Inc. lessened its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 17.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 565,652 shares of the financial services provider's stock after selling 120,300 shares during the period. Equinix comprises approximately 2.3% of Daiwa Securities Group Inc.'s portfolio, making the stock its 10th largest position. Daiwa Securities Group Inc. owned 0.60% of Equinix worth $427,972,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EQIX. CNB Bank lifted its position in shares of 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 purchasing an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix during the 2nd quarter worth approximately $30,000. LRI Investments LLC purchased a new position in Equinix in the 1st quarter valued at approximately $31,000. Rise Advisors LLC acquired a new position in shares of Equinix in the first quarter worth $39,000. Finally, UMB Bank n.a. increased its position 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 worth $54,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares of the company's stock, valued at $6,328,089.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company's stock, valued at $6,328,089.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction dated Friday, September 6th. The stock was 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 of the company's stock, valued at $3,262.40. The disclosure for this sale can be found here. Insiders sold a total of 9,179 shares of company stock valued at $7,547,719 in the last ninety days. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. Royal Bank of Canada lowered their price objective on Equinix from $950.00 to $922.00 and set an "outperform" rating for the company in a research report on Tuesday, May 28th. 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 report on Thursday, May 30th. Mizuho started coverage on shares of Equinix in a report on Thursday, July 11th. They set an "outperform" rating and a $873.00 price target for the company. Finally, Wells Fargo & Company raised shares of Equinix from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Equinix presently has a consensus rating of "Moderate Buy" and an average price target of $876.71.

Equinix Stock Performance

NASDAQ EQIX traded up $32.98 on Tuesday, reaching $864.78. The stock had a trading volume of 598,601 shares, compared to its average volume of 549,195. The stock has a market cap of $82.10 billion, a P/E ratio of 85.25, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The business's 50-day moving average price is $802.19 and its 200 day moving average price is $793.22. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS 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%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.04 EPS. As a group, equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

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 given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.97%. The ex-dividend date is Wednesday, August 21st. Equinix's dividend payout ratio (DPR) is presently 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.