Cox Capital Mgt LLC Cuts Stake in Equinix, Inc. (NASDAQ:EQIX)

Cox Capital Mgt LLC lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,829 shares of the financial services provider’s stock after selling 105 shares during the period. Equinix makes up approximately 2.3% of Cox Capital Mgt LLC’s portfolio, making the stock its 18th largest position. Cox Capital Mgt LLC’s holdings in Equinix were worth $3,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rothschild Investment LLC boosted its holdings in shares of Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. lifted its holdings in Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 11 shares during the period. Great Lakes Retirement Inc. lifted its holdings in Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after acquiring an additional 12 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of Equinix by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 12 shares in the last quarter. Finally, First Financial Bankshares Inc grew its stake in shares of Equinix by 0.5% during the 4th quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider’s stock worth $2,329,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $889.08 on Monday. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The company’s 50 day simple moving average is $831.05 and its 200 day simple moving average is $890.61. The company has a market capitalization of $86.97 billion, a price-to-earnings ratio of 103.99, a PEG ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the firm posted $8.86 EPS. Equinix’s revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio is currently 195.01%.

Insider Activity

In other news, insider Kurt Pletcher sold 127 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider now directly owns 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now owns 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research note on Friday, March 28th. Cfra Research raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. BMO Capital Markets dropped their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. BNP Paribas upgraded Equinix to a “strong-buy” rating in a research report on Thursday, May 1st. Finally, Citigroup upped their target price on Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $1,004.80.

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.