Geode Capital Management LLC Purchases 62,005 Shares of Equinix, Inc. (NASDAQ:EQIX)

Geode Capital Management LLC grew its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,412,513 shares of the financial services provider's stock after purchasing an additional 62,005 shares during the quarter. Geode Capital Management LLC owned about 2.50% of Equinix worth $2,269,037,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Equinix during the 4th quarter valued at approximately $1,067,270,000. Wellington Management Group LLP boosted its holdings in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after purchasing an additional 401,991 shares during the period. Raymond James Financial Inc. acquired a new stake in Equinix in the 4th quarter worth $328,899,000. Proficio Capital Partners LLC bought a new position in shares of Equinix during the 4th quarter worth about $246,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial decreased their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Finally, Mizuho decreased their price target on shares of 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. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Equinix presently has a consensus rating of "Buy" and a consensus price target of $1,007.59.

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Equinix Price Performance

EQIX stock traded down $35.23 during midday trading on Friday, reaching $766.21. 801,832 shares of the company's stock traded hands, compared to its average volume of 551,142. The company has a 50-day simple moving average of $886.95 and a two-hundred day simple moving average of $906.99. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a market cap of $74.58 billion, a price-to-earnings ratio of 89.62, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results 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 return on equity of 6.31% and a net margin of 9.32%. On average, analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current 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 issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.45%. This is a positive change from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now directly owns 4,329 shares of the company's stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 341 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the sale, the insider now owns 1,430 shares of the company's stock, valued at $1,292,319.60. The trade was a 19.25 % 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 in the last quarter. Insiders own 0.27% of the company's stock.

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.