Easterly Investment Partners LLC Sells 14,818 Shares of Equinix, Inc. (NASDAQ:EQIX)

Easterly Investment Partners LLC lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 80.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,520 shares of the financial services provider’s stock after selling 14,818 shares during the quarter. Easterly Investment Partners LLC’s holdings in Equinix were worth $3,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC bought a new stake in Equinix in the first quarter valued at approximately $31,000. GHP Investment Advisors Inc. lifted its position in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC lifted its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Equinix during the second quarter valued at approximately $36,000. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on EQIX shares. JPMorgan Chase & Co. upped their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Evercore ISI upped their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped 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. Finally, Wells Fargo & Company upped their target price on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $944.63.

Equinix Stock Up 1.2 %

Shares of NASDAQ EQIX traded up $10.88 during trading on Friday, reaching $918.62. The company had a trading volume of 91,586 shares, compared to its average volume of 526,353. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The stock has a market cap of $88.64 billion, a PE ratio of 81.85, a P/E/G ratio of 2.15 and a beta of 0.71. The business’s 50-day moving average is $874.46 and its 200 day moving average is $809.55. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.34% and a net margin of 12.29%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company posted $8.04 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.85%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Equinix news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,632 shares of company stock valued at $10,633,777 over the last ninety days. Insiders own 0.27% of the company’s stock.

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.