Aviva PLC Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Aviva PLC trimmed its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,819 shares of the financial services provider's stock after selling 1,567 shares during the period. Aviva PLC owned 0.09% of Equinix worth $83,747,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock worth $1,681,256,000 after buying an additional 5,910 shares during the last quarter. Edgestream Partners L.P. grew its holdings in Equinix by 61.3% in the third quarter. Edgestream Partners L.P. now owns 792 shares of the financial services provider's stock worth $703,000 after purchasing an additional 301 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of Equinix by 18.2% during the third quarter. IHT Wealth Management LLC now owns 714 shares of the financial services provider's stock worth $633,000 after purchasing an additional 110 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in shares of Equinix by 7.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 36,361 shares of the financial services provider's stock valued at $32,275,000 after purchasing an additional 2,603 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Equinix by 20.8% in the 3rd quarter. Quantinno Capital Management LP now owns 9,352 shares of the financial services provider's stock worth $8,302,000 after purchasing an additional 1,610 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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Equinix Stock Performance

EQIX traded down $29.71 on Thursday, reaching $767.72. The stock had a trading volume of 260,093 shares, compared to its average volume of 553,843. The business's 50-day moving average price is $868.89 and its two-hundred day moving average price is $902.52. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a market cap of $74.72 billion, a P/E ratio of 89.89, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 2.44%. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 1,370 shares of the business's stock in a transaction dated 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 owns 4,329 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Raouf Abdel sold 1,331 shares of the company's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares of the company's stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EQIX has been the topic of several recent analyst reports. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Mizuho decreased their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. Truist Financial dropped their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, JMP Securities reiterated a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.