Axiom Investors LLC DE Purchases 74,592 Shares of Equinix, Inc. (NASDAQ:EQIX)

Axiom Investors LLC DE grew its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 170.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,311 shares of the financial services provider's stock after buying an additional 74,592 shares during the quarter. Equinix accounts for approximately 0.8% of Axiom Investors LLC DE's holdings, making the stock its 27th biggest holding. Axiom Investors LLC DE owned 0.12% of Equinix worth $111,554,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Equinix in the fourth quarter valued at $1,067,270,000. Wellington Management Group LLP grew its holdings in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after buying an additional 401,991 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Equinix during the 4th quarter valued at about $328,899,000. Adelante Capital Management LLC lifted its holdings in shares of Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider's stock worth $456,441,000 after acquiring an additional 344,114 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Equinix in the fourth quarter valued at approximately $246,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now owns 8,377 shares of the company's stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 215 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the transaction, the insider now owns 1,245 shares in the company, valued at approximately $1,157,513.85. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Remove Ads

Equinix Stock Performance

Equinix stock traded down $14.65 on Friday, hitting $786.80. The company's stock had a trading volume of 220,979 shares, compared to its average volume of 548,987. 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 company has a fifty day moving average price of $886.95 and a 200-day moving average price of $906.99. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The firm has a market cap of $76.58 billion, a P/E ratio of 91.85, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) 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%. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.38%. The ex-dividend date was Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EQIX shares. Mizuho reduced their price target 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. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a report on Monday, January 27th. Finally, Truist Financial dropped their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $1,007.59.

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.