Equinix, Inc. (NASDAQ:EQIX) Stock Holdings Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 187,258 shares of the financial services provider's stock after selling 14,660 shares during the quarter. Envestnet Asset Management Inc. owned about 0.19% of Equinix worth $176,564,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Equinix during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp bought a new stake in shares of Equinix during the fourth quarter valued at approximately $39,000. Sierra Ocean LLC acquired a new position in shares of Equinix during the fourth quarter worth approximately $42,000. Dunhill Financial LLC boosted its position in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after buying an additional 25 shares during the period. Finally, Thompson Investment Management Inc. bought a new position in Equinix in the 4th quarter worth approximately $47,000. Institutional investors own 94.94% of the company's stock.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 341 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now directly owns 4,329 shares in the company, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. Corporate insiders own 0.27% of the company's stock.

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Equinix Trading Up 0.8 %

Shares of NASDAQ EQIX traded up $6.09 during mid-day trading on Friday, hitting $776.83. 513,907 shares of the company traded hands, compared to its average volume of 554,648. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock has a market capitalization of $75.61 billion, a price-to-earnings ratio of 90.86, a PEG ratio of 1.78 and a beta of 0.95. The business has a 50 day moving average of $863.06 and a two-hundred day moving average of $900.92.

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, topping 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 anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal 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 a positive change 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 dividend on an annualized basis and a yield of 2.41%. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports 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 reduced their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a report on Monday, March 10th. Scotiabank increased 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 research report on Monday, March 3rd. Oppenheimer boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $1,007.59.

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.