Taylor Frigon Capital Management LLC Lowers Position in Equinix, Inc. (NASDAQ:EQIX)

Taylor Frigon Capital Management LLC lessened its stake in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 0.9% during the 4th quarter, HoldingsChannel reports. The firm owned 2,512 shares of the financial services provider’s stock after selling 24 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Equinix were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Equinix by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,011,822 shares of the financial services provider’s stock valued at $6,832,805,000 after buying an additional 82,116 shares in the last quarter. BlackRock Inc. lifted its position in shares of Equinix by 0.3% during the 3rd quarter. BlackRock Inc. now owns 9,056,624 shares of the financial services provider’s stock valued at $5,151,771,000 after buying an additional 31,578 shares in the last quarter. State Street Corp lifted its position in shares of Equinix by 11.7% during the 2nd quarter. State Street Corp now owns 6,008,037 shares of the financial services provider’s stock valued at $3,947,400,000 after buying an additional 630,477 shares in the last quarter. FMR LLC lifted its position in shares of Equinix by 16.0% during the 2nd quarter. FMR LLC now owns 1,815,330 shares of the financial services provider’s stock valued at $1,192,709,000 after buying an additional 250,501 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Equinix by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,225,904 shares of the financial services provider’s stock valued at $697,337,000 after buying an additional 9,878 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EQIX. Stifel Nicolaus increased their target price on Equinix from $800.00 to $820.00 in a research report on Thursday, February 16th. TD Securities raised their price objective on Equinix from $750.00 to $800.00 and gave the company a “hold” rating in a report on Thursday, February 16th. Raymond James raised their price objective on Equinix from $800.00 to $825.00 and gave the company a “strong-buy” rating in a report on Thursday, February 16th. Wells Fargo & Company raised their price objective on Equinix from $675.00 to $785.00 in a report on Wednesday, December 14th. Finally, StockNews.com assumed coverage on Equinix in a report on Thursday. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $779.28.

Equinix Trading Down 1.7 %

Shares of NASDAQ:EQIX traded down $11.73 during midday trading on Friday, reaching $690.85. 841,357 shares of the company’s stock were exchanged, compared to its average volume of 390,754. The firm’s 50 day simple moving average is $710.66 and its two-hundred day simple moving average is $652.87. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market cap of $64.10 billion, a price-to-earnings ratio of 89.95, a P/E/G ratio of 2.33 and a beta of 0.61. Equinix, Inc. has a fifty-two week low of $494.89 and a fifty-two week high of $776.35.

Equinix (NASDAQ:EQIX – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.90 by ($4.51). The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. Equinix had a return on equity of 6.37% and a net margin of 9.70%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $6.22 earnings per share. As a group, sell-side analysts forecast that Equinix, Inc. will post 27.53 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Tuesday, March 7th will be given a dividend of $3.41 per share. This represents a $13.64 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Equinix’s previous quarterly dividend of $3.10. The ex-dividend date of this dividend is Monday, March 6th. Equinix’s dividend payout ratio (DPR) is presently 177.60%.

Insider Buying and Selling

In related news, insider Karl Strohmeyer sold 56 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $665.03, for a total transaction of $37,241.68. Following the completion of the sale, the insider now directly owns 23,247 shares of the company’s stock, valued at approximately $15,459,952.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Equinix news, insider Karl Strohmeyer sold 56 shares of Equinix stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $665.03, for a total value of $37,241.68. Following the completion of the transaction, the insider now directly owns 23,247 shares of the company’s stock, valued at approximately $15,459,952.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Simon Miller sold 380 shares of Equinix stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $671.43, for a total value of $255,143.40. Following the completion of the transaction, the chief accounting officer now directly owns 5,078 shares of the company’s stock, valued at $3,409,521.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,971 shares of company stock valued at $14,666,488. 0.32% of the stock is currently owned by insiders.

Equinix Company Profile

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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.