Hsbc Holdings PLC Sells 10,947 Shares of Equinix, Inc. (NASDAQ:EQIX)

Hsbc Holdings PLC lessened its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 335,501 shares of the financial services provider's stock after selling 10,947 shares during the quarter. Hsbc Holdings PLC owned 0.35% of Equinix worth $253,995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EQIX. Cypress Capital Group lifted its position in shares of Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider's stock worth $435,000 after purchasing an additional 13 shares in the last quarter. MRA Advisory Group lifted its position in shares of Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider's stock worth $317,000 after purchasing an additional 13 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Equinix by 3.0% in the first quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider's stock worth $402,000 after purchasing an additional 14 shares in the last quarter. Banco Santander S.A. lifted its position in shares of Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider's stock worth $577,000 after purchasing an additional 14 shares in the last quarter. Finally, Abbrea Capital LLC raised its position in Equinix by 5.5% during the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider's stock worth $204,000 after acquiring an additional 14 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

Equinix stock traded down $3.38 during trading hours on Wednesday, reaching $860.95. 288,276 shares of the stock were exchanged, compared to its average volume of 542,788. The company has a market cap of $81.71 billion, a P/E ratio of 86.35, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock has a 50 day moving average of $817.51 and a two-hundred day moving average of $792.99.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts' consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business posted $8.04 earnings per share. The company's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The business 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 $4.26 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.98%. Equinix's payout ratio is currently 170.91%.

Insider Activity

In related 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 value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares of the company's stock, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of several analyst reports. TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They set a "buy" rating and a $870.00 price target on the stock. Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an "outperform" rating in a research report on Thursday, September 12th. Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a research report on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Equinix has a consensus rating of "Moderate Buy" and a consensus target price of $883.71.

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.