APG Asset Management US Inc. Cuts Position in Equinix, Inc. (NASDAQ:EQIX)

APG Asset Management US Inc. cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,199,243 shares of the financial services provider's stock after selling 202,812 shares during the period. Equinix accounts for 8.6% of APG Asset Management US Inc.'s portfolio, making the stock its 3rd biggest position. APG Asset Management US Inc. owned approximately 1.24% of Equinix worth $1,130,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its position in shares of Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock worth $7,946,000 after buying an additional 3,212 shares during the period. Bank of New York Mellon Corp grew its holdings in Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock worth $592,191,000 after purchasing an additional 2,560 shares during the period. National Pension Service increased its stake in shares of Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after purchasing an additional 3,164 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after purchasing an additional 404 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Equinix by 46.1% in the 4th quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider's stock worth $278,712,000 after purchasing an additional 92,975 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have recently issued reports on EQIX shares. Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. 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 decreased their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Wolfe Research upgraded shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Equinix presently has an average rating of "Buy" and an average price target of $1,007.59.

Equinix Stock Up 0.2 %

Shares of NASDAQ EQIX traded up $1.43 during mid-day trading on Monday, reaching $778.26. The company had a trading volume of 128,133 shares, compared to its average volume of 553,223. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The stock has a market cap of $75.75 billion, a P/E ratio of 91.02, a PEG ratio of 1.78 and a beta of 0.95. 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 firm has a 50 day simple moving average of $863.06 and a two-hundred day simple moving average of $901.08.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. Sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.41%. The ex-dividend date was Wednesday, February 26th. Equinix's dividend payout ratio is presently 219.42%.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now directly owns 4,329 shares in the company, valued at $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company's stock.

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.