Cox Capital Mgt LLC Has $3.50 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Cox Capital Mgt LLC trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,944 shares of the financial services provider’s stock after selling 129 shares during the period. Equinix comprises approximately 2.1% of Cox Capital Mgt LLC’s investment portfolio, making the stock its 19th biggest position. Cox Capital Mgt LLC’s holdings in Equinix were worth $3,501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cypress Capital Group lifted its stake in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after buying an additional 13 shares during the period. MRA Advisory Group raised its holdings in shares of Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares during the period. Banco Santander S.A. boosted its position in shares of Equinix by 2.0% during the 1st 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. Abbrea Capital LLC grew its stake in shares of Equinix by 5.5% in the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after buying an additional 14 shares during the period. Finally, Quent Capital LLC raised its position in shares of Equinix by 5.9% during the second quarter. Quent Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 15 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equinix

In other news, CAO Simon Miller sold 569 shares of Equinix 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 sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Simon Miller sold 569 shares of Equinix 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 sale, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

EQIX has been the topic of a number of analyst reports. Evercore ISI upgraded shares of Equinix to a “strong-buy” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group upped their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Mizuho lifted their price objective 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. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Finally, Truist Financial upped their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and a consensus target price of $903.80.

Equinix Trading Up 0.1 %

Shares of EQIX traded up $1.02 during mid-day trading on Friday, reaching $871.56. The company’s stock had a trading volume of 425,237 shares, compared to its average volume of 532,931. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The stock has a market cap of $82.72 billion, a PE ratio of 87.42, a P/E/G ratio of 2.13 and a beta of 0.71. The company’s fifty day moving average price is $846.41 and its two-hundred day moving average price is $795.16. 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 (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company earned $8.04 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.96%. Equinix’s payout ratio is presently 170.91%.

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.