Wells Fargo & Company MN Has $124.86 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Wells Fargo & Company MN decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,420 shares of the financial services provider's stock after selling 12,501 shares during the period. Wells Fargo & Company MN owned about 0.14% of Equinix worth $124,858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Inspire Trust Co. N.A. increased its stake in shares of 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 during the period. Rothschild Investment LLC raised its holdings in Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock worth $543,000 after purchasing an additional 11 shares during the last quarter. Ritholtz Wealth Management lifted its position in Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock valued at $633,000 after purchasing an additional 12 shares during the period. Great Lakes Retirement Inc. boosted its stake in shares of Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock valued at $920,000 after purchasing an additional 12 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its position in shares of Equinix by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock worth $713,000 after buying an additional 12 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Mizuho cut their target price on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research note on Friday, March 28th. Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Finally, Scotiabank raised their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. Two equities 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 stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $1,007.59.

Equinix Price Performance

Shares of EQIX stock traded down $4.40 during trading on Friday, hitting $766.34. The company had a trading volume of 149,209 shares, compared to its average volume of 553,135. The stock's 50-day moving average price is $866.01 and its 200 day moving average price is $901.71. The firm has a market capitalization of $74.59 billion, a P/E ratio of 89.75, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a $4.69 dividend. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.45%. Equinix's dividend payout ratio (DPR) is presently 219.42%.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the firm's 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 sale, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Charles J. Meyers sold 3,562 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the transaction, the chairman now owns 15,513 shares of the company's stock, valued at $14,412,197.52. This trade represents a 18.67 % decrease in their ownership of the stock. 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. 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.