Freemont Management S.A. Sells 4,000 Shares of Equinix, Inc. (NASDAQ:EQIX)

Freemont Management S.A. trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 83.3% in the second quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EQIX. Public Employees Retirement System of Ohio increased its position in Equinix by 0.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after purchasing an additional 1,159 shares during the period. Pinebridge Investments L.P. bought a new position in Equinix during the fourth quarter worth about $3,724,000. Global Assets Advisory LLC bought a new position in Equinix during the first quarter worth about $15,187,000. Schroder Investment Management Group boosted its position in shares of Equinix by 0.6% in the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock valued at $194,864,000 after acquiring an additional 1,547 shares during the period. Finally, Banque Cantonale Vaudoise boosted its position in shares of Equinix by 48.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after acquiring an additional 2,133 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’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 sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The disclosure for this sale can be found here. Insiders sold 7,472 shares of company stock worth $6,154,812 in the last three months. 0.27% of the stock is owned by company insiders.

Equinix Stock Performance

Shares of NASDAQ EQIX traded up $6.46 during midday trading on Monday, hitting $824.42. 11,601 shares of the company’s stock traded hands, compared to its average volume of 546,478. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The stock has a market capitalization of $78.27 billion, a price-to-earnings ratio of 82.04, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71. 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 fifty day moving average of $800.75 and a 200 day moving average of $793.56.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $8.04 earnings per share. On average, analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 2.07%. Equinix’s payout ratio is 170.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EQIX shares. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 target price on the stock. Barclays lifted their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. TD Cowen lifted their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Mizuho assumed coverage on Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $876.71.

Equinix Company 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.