Equinix, Inc. (NASDAQ:EQIX) Stock Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,788 shares of the financial services provider's stock after buying an additional 801 shares during the period. CIBC Asset Management Inc's holdings in Equinix were worth $13,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sanctuary Advisors LLC boosted its holdings in shares of Equinix by 3.7% in the 4th quarter. Sanctuary Advisors LLC now owns 18,378 shares of the financial services provider's stock worth $16,946,000 after buying an additional 664 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of Equinix by 1,412.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the financial services provider's stock valued at $342,000 after buying an additional 339 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after buying an additional 44,471 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Equinix during the fourth quarter worth $42,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Equinix during the fourth quarter worth $341,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,057 shares of company stock worth $21,345,223 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. BMO Capital Markets dropped their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Citizens Jmp raised Equinix to a "strong-buy" rating in a research note on Monday, January 27th. TD Cowen boosted their price target on shares of Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Equinix has an average rating of "Buy" and a consensus target price of $994.82.

Equinix Price Performance

Equinix stock traded down $20.57 during mid-day trading on Friday, hitting $919.68. The stock had a trading volume of 664,034 shares, compared to its average volume of 505,680. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm's 50 day moving average is $932.17 and its 200 day moving average is $899.99. The firm has a market capitalization of $89.51 billion, a P/E ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

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, beating 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%. On average, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.04%. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is presently 199.30%.

Equinix Company 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.