Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,125,959 shares of the financial services provider's stock after selling 238,856 shares during the period. Legal & General Group Plc owned 1.17% of Equinix worth $1,061,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of EQIX. Kestra Investment Management LLC bought a new stake in Equinix during the fourth quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix during the fourth quarter valued at approximately $39,000. Sierra Ocean LLC purchased a new stake in Equinix during the fourth quarter valued at approximately $42,000. Dunhill Financial LLC grew its holdings in Equinix by 108.7% in 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. acquired a new position in shares of Equinix during the fourth quarter worth $47,000. Institutional investors own 94.94% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ EQIX traded up $6.09 during midday trading on Friday, reaching $776.83. 513,907 shares of the stock were exchanged, compared to its average volume of 554,648. The company has a quick ratio of 1.63, a current 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 $900.92. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market cap of $75.61 billion, a price-to-earnings ratio of 90.86, a PEG ratio of 1.78 and a beta of 0.95.

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Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. As a group, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a $4.69 dividend. 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 (DPR) is presently 219.42%.

Insider Activity

In related news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated 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 sale, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $17,466,950 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price on the stock in a research report on Thursday, March 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Finally, Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, Equinix has a consensus rating of "Buy" and an average target price of $1,007.59.

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.