American Assets Investment Management LLC Sells 442 Shares of Equinix, Inc. (NASDAQ:EQIX)

American Assets Investment Management LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 30.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 997 shares of the financial services provider's stock after selling 442 shares during the period. American Assets Investment Management LLC's holdings in Equinix were worth $940,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kestra Investment Management LLC bought a new position in Equinix during the 4th quarter valued at $31,000. J.Safra Asset Management Corp bought a new position in Equinix during the 4th quarter valued at $39,000. Sierra Ocean LLC bought a new position in Equinix during the 4th quarter valued at $42,000. Dunhill Financial LLC increased its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Equinix during the 4th quarter valued at $47,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on EQIX. Truist Financial decreased their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research report on Monday, March 10th. BMO Capital Markets decreased their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Barclays raised their target price on Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Citizens Jmp raised Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Equinix has an average rating of "Buy" and an average target price of $990.06.

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Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 341 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the transaction, the insider now directly owns 1,430 shares of the company's stock, valued at approximately $1,292,319.60. The trade was a 19.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 in the last ninety days. Company insiders own 0.27% of the company's stock.

Equinix Price Performance

NASDAQ:EQIX traded down $17.13 during mid-day trading on Friday, reaching $834.59. The stock had a trading volume of 1,624,876 shares, compared to its average volume of 522,075. The firm has a 50 day moving average price of $903.56 and a two-hundred day moving average price of $908.28. The stock has a market capitalization of $81.23 billion, a P/E ratio of 97.61, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

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

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a $4.69 dividend. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Wednesday, February 26th. Equinix's payout ratio is 219.42%.

Equinix 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.