Boston Financial Mangement LLC Sells 351 Shares of Equinix, Inc. (NASDAQ:EQIX)

29 Oct 2024, 10:11 by Amy Steele · The Cerbat Gem

Boston Financial Mangement LLC decreased its holdings in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 9.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,386 shares of the financial services provider’s stock after selling 351 shares during the quarter. Boston Financial Mangement LLC’s holdings in Equinix were worth $3,006,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. CNB Bank raised its stake in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the second quarter valued at about $30,000. LRI Investments LLC bought a new position in shares of Equinix during the first quarter valued at about $31,000. GHP Investment Advisors Inc. boosted its holdings in 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 purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Equinix in the 2nd quarter worth about $36,000. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 8,231 shares in the company, valued at $7,531,365. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock valued at $9,071,764 in the last quarter. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Mizuho boosted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Wells Fargo & Company lifted their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI boosted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $927.67.

View Our Latest Report on EQIX

Equinix Trading Down 0.2 %

Shares of EQIX stock opened at $912.62 on Tuesday. The company has a market capitalization of $86.61 billion, a PE ratio of 91.54, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The business’s fifty day moving average is $863.21 and its 200 day moving average is $802.33. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the business earned $8.04 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently declared 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 is presently 170.91%.

Equinix Company Profile

(Free Report)

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.