Perigon Wealth Management LLC Sells 116 Shares of Equinix Inc (NASDAQ:EQIX)

Perigon Wealth Management LLC decreased its position in Equinix Inc (NASDAQ:EQIX) by 23.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370 shares of the financial services provider’s stock after selling 116 shares during the quarter. Perigon Wealth Management LLC’s holdings in Equinix were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in EQIX. M&T Bank Corp lifted its position in Equinix by 4.8% in the second quarter. M&T Bank Corp now owns 11,574 shares of the financial services provider’s stock valued at $8,129,000 after purchasing an additional 525 shares during the last quarter. Pacer Advisors Inc. lifted its position in Equinix by 25.8% in the second quarter. Pacer Advisors Inc. now owns 160,617 shares of the financial services provider’s stock valued at $112,801,000 after purchasing an additional 32,953 shares during the last quarter. GWM Advisors LLC bought a new stake in Equinix in the second quarter valued at approximately $534,000. Stratos Wealth Partners LTD. lifted its position in Equinix by 8.6% in the second quarter. Stratos Wealth Partners LTD. now owns 2,913 shares of the financial services provider’s stock valued at $2,046,000 after purchasing an additional 230 shares during the last quarter. Finally, Pitcairn Co. lifted its position in Equinix by 6.0% in the second quarter. Pitcairn Co. now owns 747 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

NASDAQ EQIX opened at $785.48 on Friday. Equinix Inc has a 12 month low of $477.87 and a 12 month high of $787.70. The stock has a market cap of $67.49 billion, a P/E ratio of 136.13, a P/E/G ratio of 2.47 and a beta of 0.41. The stock’s fifty day moving average price is $714.15 and its 200-day moving average price is $653.86. The company has a current ratio of 1.55, a quick ratio of 1.26 and a debt-to-equity ratio of 1.24.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, July 29th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $5.40 by ($3.88). Equinix had a return on equity of 5.43% and a net margin of 8.69%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company posted $1.69 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. As a group, analysts forecast that Equinix Inc will post 21.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, August 19th will be paid a $2.66 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $10.64 dividend on an annualized basis and a dividend yield of 1.35%. Equinix’s dividend payout ratio is currently 46.65%.

In other news, Director Adaire Fox-Martin sold 58 shares of the stock in a transaction on Friday, June 19th. The stock was sold at an average price of $713.42, for a total value of $41,378.36. Following the sale, the director now directly owns 193 shares of the company’s stock, valued at $137,690.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 1,300 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $676.64, for a total value of $879,632.00. Following the completion of the sale, the insider now directly owns 18,406 shares in the company, valued at $12,454,235.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,041 shares of company stock worth $3,437,707. Insiders own 0.51% of the company’s stock.

Several brokerages have weighed in on EQIX. Argus boosted their price objective on Equinix from $600.00 to $740.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Citigroup upped their target price on Equinix from $754.00 to $883.00 and gave the company a “buy” rating in a report on Thursday. Barclays upped their target price on Equinix from $821.00 to $876.00 and gave the company an “overweight” rating in a report on Thursday. Deutsche Bank upped their target price on Equinix from $750.00 to $760.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Raymond James upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $835.00 target price for the company in a report on Thursday. Two investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $765.16.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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