Neuberger Berman Group LLC reduced its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 207,461 shares of the financial services provider's stock after selling 5,015 shares during the quarter. Neuberger Berman Group LLC owned about 0.22% of Equinix worth $195,613,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in EQIX. Principal Financial Group Inc. boosted its position in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after acquiring an additional 5,910 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Equinix during the 3rd quarter valued at $276,000. Coldstream Capital Management Inc. boosted its holdings in shares of Equinix by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,426 shares of the financial services provider's stock valued at $1,268,000 after buying an additional 179 shares in the last quarter. Brown Financial Advisors grew its position in shares of Equinix by 6.1% in the 3rd quarter. Brown Financial Advisors now owns 1,094 shares of the financial services provider's stock worth $971,000 after buying an additional 63 shares during the period. Finally, Chiron Investment Management LLC lifted its position in Equinix by 99.5% during the 3rd quarter. Chiron Investment Management LLC now owns 2,380 shares of the financial services provider's stock valued at $2,113,000 after acquiring an additional 1,187 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on EQIX shares. Mizuho lowered their target price 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. Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Truist Financial dropped their price target on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Scotiabank raised their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Finally, Oppenheimer upped their price objective on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Two investment 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's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $1,007.59.
View Our Latest Analysis on EQIX
Insider Buying and Selling
In related news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction on 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 directly owns 6,579 shares of the company's stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,054 shares of company stock worth $17,466,950. Corporate insiders own 0.27% of the company's stock.
Equinix Price Performance
Shares of EQIX stock traded up $6.15 during trading hours on Tuesday, hitting $790.02. The stock had a trading volume of 138,841 shares, compared to its average volume of 553,502. The stock's 50-day moving average price is $860.01 and its two-hundred day moving average price is $900.38. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The stock has a market capitalization of $76.89 billion, a price-to-earnings ratio of 92.40, a PEG ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping 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%. Equities 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. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.37%. Equinix's dividend payout ratio (DPR) is presently 219.42%.
About Equinix
(
Free Report)
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.
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