Equinix, Inc. (NASDAQ:EQIX) Stock Holdings Decreased by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 781,135 shares of the financial services provider's stock after selling 140,392 shares during the quarter. Clearbridge Investments LLC owned about 0.81% of Equinix worth $736,524,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Equinix during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix during the 4th quarter worth $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix during the fourth quarter worth $42,000. Dunhill Financial LLC grew its position in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 25 shares during the period. Finally, Thompson Investment Management Inc. acquired a new position in Equinix in the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

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. Scotiabank boosted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a "sector outperform" rating in a report on Monday, March 3rd. Truist Financial cut their price target 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. Cfra Research raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Finally, Oppenheimer increased their target price on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Equinix currently has a consensus rating of "Buy" and an average target price of $1,007.59.

Insider Buying and Selling

In other Equinix news, CFO Keith D. Taylor sold 3,184 shares of the company's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares of the company's stock, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares in the company, valued at $13,859,135.73. The trade was a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 in the last quarter. Company insiders own 0.27% of the company's stock.

Equinix Stock Down 3.1 %

NASDAQ EQIX traded down $25.74 on Thursday, hitting $805.81. 447,897 shares of the stock traded hands, compared to its average volume of 546,776. 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 stock has a 50-day moving average of $889.74 and a 200 day moving average of $907.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a market capitalization of $78.43 billion, a P/E ratio of 94.25, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly 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%. As a group, analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.33%. Equinix's dividend payout ratio is 219.42%.

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.