Cerity Partners LLC Acquires 2,072 Shares of Equinix, Inc. (NASDAQ:EQIX)

Cerity Partners LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 21.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,800 shares of the financial services provider's stock after purchasing an additional 2,072 shares during the quarter. Cerity Partners LLC's holdings in Equinix were worth $10,861,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in Equinix during the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new stake in Equinix in the fourth quarter valued at $39,000. Sierra Ocean LLC acquired a new position in shares of Equinix during the 4th quarter worth $42,000. Thompson Investment Management Inc. acquired a new stake in shares of Equinix in the fourth quarter valued at approximately $47,000. Finally, Key Financial Inc increased its position in 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 buying an additional 14 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 1,331 shares of the business's 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 transaction, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $308,168.52. Following the transaction, the insider now directly owns 1,430 shares in the company, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EQIX shares. Wells Fargo & Company reduced their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Mizuho decreased 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. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Truist Financial cut their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Finally, BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $1,007.59.

Equinix Trading Up 0.6 %

Shares of Equinix stock traded up $4.91 during trading on Tuesday, hitting $788.78. 185,398 shares of the company were exchanged, compared to its average volume of 553,738. The firm has a market capitalization of $76.77 billion, a P/E ratio of 92.23, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The firm's fifty day moving average price is $860.01 and its 200 day moving average price is $900.38. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 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%. As a group, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.38%. Equinix's payout ratio is presently 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.