Harvest Fund Management Co. Ltd Buys Shares of 817 Equinix, Inc. (NASDAQ:EQIX)

Harvest Fund Management Co. Ltd acquired a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 817 shares of the financial services provider's stock, valued at approximately $770,000.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in Equinix in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the 4th quarter valued at approximately $39,000. Sierra Ocean LLC bought a new position in shares of Equinix in the fourth quarter valued at $42,000. Dunhill Financial LLC increased its holdings in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in Equinix during the fourth quarter worth $47,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 trade represents a 7.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. This trade represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,054 shares of company stock worth $17,466,950. Company insiders own 0.27% of the company's stock.

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Equinix Stock Performance

NASDAQ EQIX traded down $11.22 during trading on Tuesday, reaching $841.22. The company's stock had a trading volume of 581,026 shares, compared to its average volume of 519,944. The firm has a 50 day moving average price of $902.62 and a 200 day moving average price of $909.60. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 98.39, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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%. As a group, equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Wednesday, February 26th. Equinix's dividend payout ratio is 219.42%.

Analysts Set New Price Targets

A number of research analysts have recently commented on EQIX shares. Royal Bank of Canada lifted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Truist Financial reduced their price target on Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a report on Monday, March 10th. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Scotiabank raised their price objective on Equinix from $1,033.00 to $1,040.00 and gave the company a "sector outperform" rating in a research report on Monday, March 3rd. Finally, Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $990.06.

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.