American Century Companies Inc. Sells 18,052 Shares of Equinix, Inc. (NASDAQ:EQIX)

American Century Companies Inc. lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,469 shares of the financial services provider's stock after selling 18,052 shares during the quarter. American Century Companies Inc. owned approximately 0.36% of Equinix worth $328,568,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Inspire Trust Co. N.A. grew its stake in shares of Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 11 shares in the last quarter. Rothschild Investment LLC increased its stake in Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock valued at $543,000 after buying an additional 11 shares during the period. Ritholtz Wealth Management raised its position in shares of Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock worth $633,000 after buying an additional 12 shares in the last quarter. Great Lakes Retirement Inc. raised its position in shares of Equinix by 1.2% during the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after buying an additional 12 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in shares of Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock worth $713,000 after acquiring an additional 12 shares during the period. 94.94% of the stock is currently owned by institutional investors.

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Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction 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 approximately $5,945,508.09. The trade was a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 in the last three months. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EQIX. Truist Financial dropped their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Wells Fargo & Company cut their price objective on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Oppenheimer lifted their target price on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. BMO Capital Markets cut their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research note on Monday, January 27th. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $990.06.

Equinix Stock Down 0.6 %

Shares of NASDAQ EQIX traded down $5.17 during mid-day trading on Tuesday, reaching $847.27. The company had a trading volume of 163,522 shares, compared to its average volume of 615,143. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $82.47 billion, a price-to-earnings ratio of 99.10, a PEG ratio of 1.78 and a beta of 0.74. The stock has a fifty day moving average of $902.62 and a two-hundred day moving average of $909.60. 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 released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a $4.69 dividend. 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 2.21%. This is an increase from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is 219.42%.

About Equinix

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.