Cypress Capital Group Sells 291 Shares of Equinix, Inc. (NASDAQ:EQIX)

Cypress Capital Group cut its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 33.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 586 shares of the financial services provider's stock after selling 291 shares during the quarter. Cypress Capital Group's holdings in Equinix were worth $553,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider's stock valued at $960,820,000 after purchasing an additional 813,666 shares in the last quarter. Adelante Capital Management LLC grew its position in shares of Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider's stock valued at $456,441,000 after purchasing an additional 344,114 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Equinix in the fourth quarter valued at $246,000. JPMorgan Chase & Co. grew its position in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Finally, abrdn plc grew its position in shares of Equinix by 49.2% in the fourth quarter. abrdn plc now owns 464,840 shares of the financial services provider's stock valued at $437,563,000 after purchasing an additional 153,215 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the insider now directly owns 1,245 shares of the company's stock, valued at $1,157,513.85. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 in the last 90 days. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Truist Financial boosted their target price on Equinix from $935.00 to $1,090.00 and gave the stock a "buy" rating in a research report on Friday, November 29th. JMP Securities restated a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Citizens Jmp upgraded Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $995.24.

Equinix Trading Up 1.2 %

NASDAQ EQIX opened at $921.02 on Thursday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. 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 $926.24 and a 200-day moving average of $906.92. The firm has a market cap of $89.64 billion, a PE ratio of 107.72, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72.

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given 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 of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.04%. Equinix's dividend payout ratio is presently 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.

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