Capital Research Global Investors Raises Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Capital Research Global Investors increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,098,700 shares of the financial services provider's stock after acquiring an additional 28,297 shares during the quarter. Capital Research Global Investors owned about 1.14% of Equinix worth $1,035,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in shares of Equinix during the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix in the fourth quarter valued at about $39,000. Sierra Ocean LLC purchased a new stake in Equinix in the fourth quarter valued at about $42,000. Thompson Investment Management Inc. acquired a new stake in Equinix in the fourth quarter worth about $47,000. Finally, Key Financial Inc grew its stake in shares of Equinix by 30.4% during the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock worth $57,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In related news, CFO Keith D. Taylor sold 2,454 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total value of $2,280,600.36. Following the completion of the sale, the chief financial officer now owns 24,402 shares of the company's stock, valued at approximately $22,677,754.68. This trade represents a 9.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurt Pletcher sold 215 shares of the business's stock in a transaction 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 directly owns 1,245 shares in the company, valued at $1,157,513.85. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,040 shares of company stock worth $6,547,068. Corporate insiders own 0.27% of the company's stock.

Equinix Price Performance

Shares of EQIX stock traded up $10.27 during trading hours on Thursday, hitting $819.73. 175,586 shares of the company's stock were exchanged, compared to its average volume of 551,184. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a market cap of $80.18 billion, a P/E ratio of 96.02, a P/E/G ratio of 1.78 and a beta of 0.95. 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 firm has a 50 day moving average of $839.40 and a two-hundred day moving average of $895.62.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $4.69 dividend. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.29%. The ex-dividend date was Wednesday, February 26th. Equinix's dividend payout ratio is currently 219.42%.

Analysts Set New Price Targets

A number of analysts recently commented on EQIX shares. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Mizuho lowered their price objective on shares of 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. Truist Financial cut their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Barclays lifted their price target on Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Finally, Citigroup cut their price objective on Equinix from $1,020.00 to $970.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of "Buy" and a consensus price target of $1,004.94.

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.