ExodusPoint Capital Management LP Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

ExodusPoint Capital Management LP cut its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,710 shares of the financial services provider's stock after selling 2,398 shares during the quarter. ExodusPoint Capital Management LP's holdings in Equinix were worth $34,613,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock worth $11,941,418,000 after purchasing an additional 88,654 shares during the period. State Street Corp grew its stake in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock worth $5,171,405,000 after buying an additional 81,941 shares during the last quarter. Geode Capital Management LLC increased its position in Equinix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after buying an additional 62,005 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock worth $1,827,847,000 after acquiring an additional 44,471 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,788 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of 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 90 days, insiders have sold 19,054 shares of company stock worth $17,466,950. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Performance

Equinix stock traded up $13.60 during trading hours on Tuesday, hitting $761.34. 267,408 shares of the stock traded hands, compared to its average volume of 552,370. The firm's 50 day moving average price is $880.41 and its 200-day moving average price is $905.96. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $74.10 billion, a price-to-earnings ratio of 89.38, a P/E/G ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results 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 net margin of 9.32% and a return on equity of 6.31%. As a group, equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal 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 given a dividend of $4.69 per share. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. BMO Capital Markets decreased their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a report on Thursday, March 27th. Citizens Jmp raised Equinix to a "strong-buy" rating in a report on Monday, January 27th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $1,007.59.

About Equinix

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.