Allspring Global Investments Holdings LLC Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Allspring Global Investments Holdings LLC lifted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,726 shares of the financial services provider's stock after buying an additional 1,167 shares during the period. Allspring Global Investments Holdings LLC's holdings in Equinix were worth $45,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock valued at $5,171,405,000 after purchasing an additional 81,941 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider's stock valued at $2,079,591,000 after purchasing an additional 33,277 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after purchasing an additional 5,910 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider's stock valued at $1,006,724,000 after purchasing an additional 53,729 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen upped their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a report on Thursday, October 31st. BMO Capital Markets lowered their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Truist Financial increased their price target on shares of Equinix from $935.00 to $1,090.00 and gave the stock a "buy" rating in a report on Friday, November 29th. Stifel Nicolaus upped their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $994.82.

Insider Buying and Selling

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. The trade was a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares of the company's stock, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,701 shares of company stock worth $15,441,464. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 0.9 %

EQIX stock traded down $8.77 on Tuesday, reaching $924.83. The company's stock had a trading volume of 173,993 shares, compared to its average volume of 496,040. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $89.24 billion, a PE ratio of 83.32, a PEG ratio of 2.23 and a beta of 0.72. The business has a fifty day simple moving average of $934.17 and a two-hundred day simple moving average of $898.55. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. As a group, research analysts forecast that Equinix, Inc. will post 31.09 EPS for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.03%. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is presently 153.65%.

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.