Massachusetts Financial Services Co. MA Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 366,013 shares of the financial services provider's stock after buying an additional 2,561 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.38% of Equinix worth $345,110,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of Equinix in the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in Equinix during the 4th quarter worth $39,000. Sierra Ocean LLC bought a new position in shares of Equinix during the fourth quarter valued at about $42,000. Dunhill Financial LLC boosted its holdings in 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 purchasing an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in Equinix in the 4th quarter valued at about $47,000. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 684 shares of the firm'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 directly owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares of the company's stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 in the last 90 days. 0.27% of the stock is owned by company insiders.

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Equinix Price Performance

Equinix stock traded down $35.23 during mid-day trading on Friday, hitting $766.21. 820,368 shares of the company traded hands, compared to its average volume of 551,538. The stock has a fifty day moving average price of $883.46 and a 200-day moving average price of $906.22. The stock has a market cap of $74.58 billion, a price-to-earnings ratio of 89.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results 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 net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.45%. Equinix's dividend payout ratio (DPR) is 219.42%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price target on the stock in a report on Thursday, March 27th. Finally, BMO Capital Markets reduced their price objective on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and a consensus target price of $1,007.59.

Equinix 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.