Adage Capital Partners GP L.L.C. Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Adage Capital Partners GP L.L.C. grew its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,168 shares of the financial services provider's stock after buying an additional 8,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.17% of Equinix worth $157,621,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock worth $1,681,256,000 after acquiring an additional 5,910 shares during the period. Pine Valley Investments Ltd Liability Co increased its stake in shares of Equinix by 49.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider's stock worth $1,414,000 after purchasing an additional 524 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Equinix during the 3rd quarter valued at $582,000. Cim Investment Management Inc. lifted its stake in shares of Equinix by 31.4% during the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider's stock valued at $3,261,000 after buying an additional 879 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in Equinix by 12.9% in the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider's stock worth $22,880,000 after buying an additional 2,940 shares during the period. Institutional investors own 94.94% of the company's stock.

Equinix Stock Performance

EQIX stock opened at $791.12 on Wednesday. The firm has a market cap of $77.39 billion, a price-to-earnings ratio of 92.53, a PEG ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The business's fifty day simple moving average is $841.89 and its two-hundred day simple moving average is $896.22.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.37%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio is currently 219.42%.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now owns 17,669 shares in the company, valued at $16,117,838.49. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith D. Taylor sold 2,454 shares of Equinix stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total value of $2,280,600.36. Following the completion of the transaction, the chief financial officer now owns 24,402 shares in the company, valued at $22,677,754.68. This represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,040 shares of company stock worth $6,547,068. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JMP Securities reissued a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Citizens Jmp raised Equinix to a "strong-buy" rating in a research note on Monday, January 27th. BMO Capital Markets dropped their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Mizuho reduced their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. Finally, Wells Fargo & Company decreased their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Equinix presently has an average rating of "Buy" and an average target price of $1,004.94.

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.

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