Arrowstreet Capital Limited Partnership Buys 28,077 Shares of Equinix, Inc. (NASDAQ:EQIX)

Arrowstreet Capital Limited Partnership lifted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 389.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,290 shares of the financial services provider's stock after acquiring an additional 28,077 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Equinix were worth $33,275,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock worth $1,681,256,000 after buying an additional 5,910 shares during the period. Edgestream Partners L.P. boosted its position in Equinix by 61.3% during the 3rd quarter. Edgestream Partners L.P. now owns 792 shares of the financial services provider's stock worth $703,000 after acquiring an additional 301 shares during the period. Holocene Advisors LP grew its stake in Equinix by 157.8% during the 3rd quarter. Holocene Advisors LP now owns 7,109 shares of the financial services provider's stock valued at $6,310,000 after acquiring an additional 4,351 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Equinix by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 369,641 shares of the financial services provider's stock valued at $328,151,000 after purchasing an additional 2,466 shares during the period. Finally, Investment Management Corp of Ontario lifted its position in shares of Equinix by 51.4% in the third quarter. Investment Management Corp of Ontario now owns 3,241 shares of the financial services provider's stock worth $2,877,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently commented on EQIX shares. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. BMO Capital Markets dropped 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 research note on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Scotiabank boosted their target price on Equinix from $1,033.00 to $1,040.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Finally, Mizuho cut their price target on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $1,007.59.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the sale, the insider now owns 1,430 shares in the company, valued at $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 available at this link. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the transaction, the executive vice president now owns 6,579 shares of the company's stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 in the last ninety days. Insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of Equinix stock traded down $18.47 during trading on Monday, reaching $747.74. The company's stock had a trading volume of 920,126 shares, compared to its average volume of 553,455. 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. The firm has a market cap of $72.78 billion, a price-to-earnings ratio of 87.45, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The business's fifty day moving average price is $880.41 and its 200-day moving average price is $905.96.

Equinix (NASDAQ:EQIX - Get Free Report) last issued 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 return on equity of 6.31% and a net margin of 9.32%. As a group, equities research analysts predict 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 issued a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.51%. Equinix's dividend 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.