Equinix, Inc. (NASDAQ:EQIX) Position Trimmed by Capital International Inc. CA

Capital International Inc. CA trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 26.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,496 shares of the financial services provider's stock after selling 6,809 shares during the quarter. Capital International Inc. CA's holdings in Equinix were worth $17,440,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of Equinix by 0.3% in 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 buying an additional 5,910 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its position in Equinix by 49.0% during the 3rd 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Equinix during the third quarter valued at $582,000. Cim Investment Management Inc. raised its holdings in Equinix by 31.4% in 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 acquiring an additional 879 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in Equinix by 12.9% during the third quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider's stock worth $22,880,000 after purchasing an additional 2,940 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Oppenheimer boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lowered 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 report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $1,004.94.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 215 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now owns 1,245 shares in the company, valued at $1,157,513.85. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,040 shares of company stock worth $6,547,068. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Up 2.3 %

EQIX stock traded up $18.20 during mid-day trading on Wednesday, hitting $809.32. 640,119 shares of the company were exchanged, compared to its average volume of 552,624. The company has a market capitalization of $79.17 billion, a PE ratio of 94.66, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The firm has a fifty day simple moving average of $841.89 and a 200 day simple moving average of $896.22. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its 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%. On average, research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix's payout ratio is presently 219.42%.

About Equinix

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.