Avitas Wealth Management LLC Has $1.10 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Avitas Wealth Management LLC trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,244 shares of the financial services provider’s stock after selling 98 shares during the quarter. Avitas Wealth Management LLC’s holdings in Equinix were worth $1,104,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EQIX. CNB Bank raised its position in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the second quarter worth about $30,000. LRI Investments LLC bought a new position in shares of Equinix during the first quarter worth about $31,000. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC raised its position in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. TD Cowen lifted their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Wells Fargo & Company lifted their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and lifted their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $927.67.

Equinix Trading Up 0.5 %

Shares of Equinix stock opened at $910.22 on Thursday. The stock has a fifty day simple moving average of $866.57 and a 200 day simple moving average of $804.08. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The company has a market capitalization of $86.39 billion, a P/E ratio of 91.30, 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 (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 business had revenue of $2.16 billion during 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 firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $8.04 EPS. On average, sell-side analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders 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 dividend on an annualized basis and a yield of 1.87%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Buying and Selling at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction 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 owns 5,554 shares in the company, valued at $4,559,334.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Simon Miller sold 569 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 863 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the transaction, the insider now owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,906 shares of company stock worth $9,071,764 in the last quarter. 0.27% of the stock is currently owned by company insiders.

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.