Stock Yards Bank & Trust Co. Sells 40 Shares of Equinix, Inc. (NASDAQ:EQIX)

Stock Yards Bank & Trust Co. lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,061 shares of the financial services provider’s stock after selling 40 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Equinix were worth $11,395,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of EQIX. Cypress Capital Group boosted its stake in shares of Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 13 shares during the period. MRA Advisory Group grew its stake in Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 13 shares in the last quarter. Lindbrook Capital LLC grew its stake in Equinix by 3.0% in the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 14 shares in the last quarter. Banco Santander S.A. increased its position in shares of Equinix by 2.0% during the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 14 shares during the period. Finally, Abbrea Capital LLC raised its stake in shares of Equinix by 5.5% during the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 0.6 %

Shares of NASDAQ:EQIX opened at $876.57 on Tuesday. The business’s 50-day moving average is $813.86 and its 200 day moving average is $792.77. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The firm has a market capitalization of $83.19 billion, a P/E ratio of 87.92, a P/E/G ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.04 EPS. On average, research analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. Equinix’s payout ratio is currently 170.91%.

Wall Street Analyst Weigh In

EQIX has been the topic of several research reports. Royal Bank of Canada reduced their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. TD Cowen upped their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Barclays raised their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Finally, Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $883.71.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock valued at $8,282,119 in the last ninety days. Company insiders own 0.27% of the company’s stock.

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.