Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 39.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,948 shares of the financial services provider's stock after selling 1,267 shares during the quarter. Red Cedar Investment Management LLC's holdings in Equinix were worth $1,837,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Inspire Trust Co. N.A. boosted its stake in Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock valued at $1,509,000 after buying an additional 11 shares in the last quarter. GS Investments Inc. raised its stake in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider's stock worth $2,087,000 after buying an additional 12 shares during the last quarter. Ritholtz Wealth Management grew 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 during the period. Great Lakes Retirement Inc. raised its holdings in Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after purchasing an additional 12 shares during the period. Finally, GHP Investment Advisors Inc. increased its holdings in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after acquiring an additional 13 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of EQIX traded up $7.18 during midday trading on Wednesday, hitting $939.08. 529,114 shares of the company traded hands, compared to its average volume of 507,929. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. 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 firm has a 50 day moving average of $933.56 and a 200-day moving average of $899.43. The stock has a market cap of $91.40 billion, a price-to-earnings ratio of 109.83, a PEG ratio of 2.24 and a beta of 0.72.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. On average, analysts forecast that Equinix, Inc. will post 33.71 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio (DPR) is presently 199.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Truist Financial boosted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a research report on Friday, November 29th. BMO Capital Markets cut their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Finally, Citizens Jmp upgraded Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Equinix currently has an average rating of "Buy" and an average price target of $994.82.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now 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. Insiders have sold 16,826 shares of company stock valued at $15,555,490 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

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.