Envestnet Portfolio Solutions Inc. Has $13.57 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Envestnet Portfolio Solutions Inc. lowered its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,391 shares of the financial services provider's stock after selling 843 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Equinix were worth $13,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its stake in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock worth $5,171,405,000 after buying an additional 81,941 shares during the last quarter. Geode Capital Management LLC grew its stake in Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider's stock worth $2,079,591,000 after buying an additional 33,277 shares during the last quarter. Principal Financial Group Inc. grew its stake in Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock worth $1,827,847,000 after buying an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Equinix by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider's stock worth $1,107,860,000 after buying an additional 40,791 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Royal Bank of Canada upped their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Barclays upped their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Scotiabank upped their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Equinix has an average rating of "Buy" and a consensus price target of $990.06.

Equinix Trading Down 0.4 %

EQIX traded down $3.61 during mid-day trading on Thursday, hitting $851.72. The stock had a trading volume of 532,758 shares, compared to its average volume of 529,094. The stock's fifty day simple moving average is $906.85 and its 200-day simple moving average is $908.67. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $82.90 billion, a price-to-earnings ratio of 99.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. 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 posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is an increase 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 dividend yield of 2.20%. Equinix's dividend payout ratio is currently 219.42%.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 1,370 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 4,329 shares of the company's stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. This represents a 0.70 % 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 over the last quarter. Corporate insiders own 0.27% of the company's stock.

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.