Equinix, Inc. (NASDAQ:EQIX) Stake Cut by AlphaQuest LLC

AlphaQuest LLC lessened its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 92.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200 shares of the financial services provider's stock after selling 2,344 shares during the quarter. AlphaQuest LLC's holdings in Equinix were worth $189,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EQIX. OFI Invest Asset Management acquired a new position in shares of Equinix during the fourth quarter worth about $5,332,000. Dorsey & Whitney Trust CO LLC increased its position in shares of Equinix by 3.8% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 871 shares of the financial services provider's stock valued at $821,000 after purchasing an additional 32 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Equinix in the 4th quarter valued at $2,470,000. PNC Financial Services Group Inc. lifted its position in shares of Equinix by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,690 shares of the financial services provider's stock worth $12,908,000 after purchasing an additional 522 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Equinix by 3.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,703 shares of the financial services provider's stock worth $9,941,000 after purchasing an additional 304 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,329 shares of the company's stock, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

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Equinix Price Performance

Shares of NASDAQ:EQIX traded down $3.61 during trading on Thursday, hitting $851.72. 531,277 shares of the stock were exchanged, compared to its average volume of 529,093. The company has a market cap of $82.90 billion, a PE ratio of 99.62, a P/E/G ratio of 1.78 and a beta of 0.74. 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 company has a fifty day moving average price of $906.85 and a two-hundred day moving average price of $908.67. Equinix, Inc. has a 12-month low of $684.14 and a 12-month 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, beating 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, 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 was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.20%. Equinix's dividend payout ratio is currently 219.42%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EQIX. Stifel Nicolaus raised 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. Wells Fargo & Company cut their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. BMO Capital Markets dropped their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Barclays boosted their price target on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Oppenheimer raised their price objective on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Equinix presently has an average rating of "Buy" and an average price target of $990.06.

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.