Pensionfund DSM Netherlands reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 15.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,814 shares of the financial services provider's stock after selling 2,000 shares during the period. Equinix makes up 6.3% of Pensionfund DSM Netherlands' investment portfolio, making the stock its 2nd biggest position. Pensionfund DSM Netherlands' holdings in Equinix were worth $10,196,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in shares of Equinix by 1.4% in the 3rd 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 period. Geode Capital Management LLC increased its holdings 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 valued at $2,079,591,000 after buying an additional 33,277 shares during the last quarter. Principal Financial Group Inc. lifted its position in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider's stock valued at $1,009,293,000 after buying an additional 19,844 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.
Insider Activity at Equinix
In other news, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the sale, the insider now owns 1,015 shares of the company's stock, valued at approximately $976,633. This trade represents a 17.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business's 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 $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,398 shares of company stock valued at $7,906,218. Insiders own 0.27% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Mizuho increased their price target on Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a research note on Thursday, September 12th. Scotiabank raised their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. Truist Financial boosted their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. Cfra restated a "hold" rating on shares of Equinix in a report on Tuesday, September 24th. Finally, HSBC upgraded Equinix from a "hold" rating to a "buy" rating and boosted their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $976.81.
View Our Latest Stock Analysis on EQIX
Equinix Trading Down 2.1 %
Shares of NASDAQ EQIX traded down $19.97 during mid-day trading on Monday, hitting $940.00. 402,691 shares of the company traded hands, compared to its average volume of 375,797. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The business has a 50 day moving average of $938.33 and a two-hundred day moving average of $865.80. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $90.70 billion, a price-to-earnings ratio of 84.76, a PEG ratio of 2.51 and a beta of 0.73.
Equinix Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.81%. Equinix's dividend payout ratio is presently 153.65%.
Equinix Profile
(
Free Report)
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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