Oppenheimer Asset Management Inc. Cuts Position in Equinix, Inc. (NASDAQ:EQIX)

Oppenheimer Asset Management Inc. decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,999 shares of the financial services provider’s stock after selling 247 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Equinix were worth $5,295,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CNB Bank raised 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 valued at $25,000 after purchasing an additional 19 shares in the last quarter. LRI Investments LLC purchased a new position in Equinix in the first quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix in the second quarter valued at $30,000. Rise Advisors LLC purchased a new stake in Equinix during the 1st quarter worth about $39,000. Finally, Meeder Asset Management Inc. purchased a new stake in Equinix during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equinix news, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on 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 completion of the sale, the chairman now directly 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 ninety days, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by company insiders.

Equinix Stock Up 0.3 %

Shares of NASDAQ EQIX opened at $871.54 on Monday. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The business has a 50-day moving average price of $811.47 and a 200 day moving average price of $792.85. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market cap of $82.74 billion, a PE ratio of 87.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data 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 return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business posted $8.04 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.96%. Equinix’s payout ratio is 170.91%.

Analysts Set New Price Targets

A number of research firms have recently commented on EQIX. Barclays increased their price objective on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Mizuho increased their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday. TD Cowen increased their price objective on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group began coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Six investment 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, Equinix currently has an average rating of “Moderate Buy” and a consensus price target 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.