Evercore Wealth Management LLC reduced its stake in shares of Equinix, Inc. (REIT) (NASDAQ:EQIX) by 4.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,529 shares of the financial services provider’s stock after selling 71 shares during the quarter. Evercore Wealth Management LLC’s holdings in Equinix were worth $1,040,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in Equinix during the first quarter worth about $31,000. Sage Private Wealth Group LLC acquired a new position in Equinix during the fourth quarter worth about $36,000. CoreFirst Bank & Trust acquired a new position in Equinix during the first quarter worth about $34,000. Better Money Decisions LLC purchased a new stake in shares of Equinix in the first quarter valued at about $38,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Equinix in the fourth quarter valued at about $51,000. Institutional investors own 91.09% of the company’s stock.
In other news, insider Sara Baack sold 250 shares of the stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $750.00, for a total value of $187,500.00. Following the completion of the sale, the insider now owns 13,517 shares of the company’s stock, valued at $10,137,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles J. Meyers sold 5,051 shares of the stock in a transaction on Monday, June 7th. The stock was sold at an average price of $795.42, for a total transaction of $4,017,666.42. Following the completion of the sale, the chief executive officer now directly owns 8,815 shares of the company’s stock, valued at approximately $7,011,627.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,501 shares of company stock worth $13,019,508. 13.20% of the stock is currently owned by insiders.
NASDAQ:EQIX opened at $819.76 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $73.43 billion, a P/E ratio of 179.38, a P/E/G ratio of 2.18 and a beta of 0.29. Equinix, Inc. has a fifty-two week low of $586.73 and a fifty-two week high of $845.62. The stock’s 50 day moving average is $787.67.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 28th. The financial services provider reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.03 by ($4.29). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Equinix had a return on equity of 5.85% and a net margin of 6.62%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $6.21 EPS. As a group, research analysts anticipate that Equinix, Inc. will post 24.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 16th. Shareholders of record on Wednesday, May 19th were paid a dividend of $2.87 per share. This represents a $11.48 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Tuesday, May 18th. Equinix’s dividend payout ratio is currently 46.37%.
Equinix Company Profile
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.
Further Reading: Momentum Indicators
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