Invesco Ltd. Sells 82,999 Shares of Equinix, Inc. (NASDAQ:EQIX)

Invesco Ltd. reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 969,881 shares of the financial services provider's stock after selling 82,999 shares during the period. Invesco Ltd. owned 1.01% of Equinix worth $914,491,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after buying an additional 88,654 shares in the last quarter. Geode Capital Management LLC lifted its position in Equinix by 2.6% in 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 acquiring an additional 62,005 shares in the last quarter. FMR LLC boosted its stake in Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after purchasing an additional 81,144 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock worth $1,827,847,000 after purchasing an additional 44,471 shares in the last quarter. Finally, Wellington Management Group LLP raised 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 purchasing an additional 401,991 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

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Equinix Price Performance

NASDAQ EQIX traded up $6.09 on Friday, hitting $776.83. The stock had a trading volume of 513,907 shares, compared to its average volume of 554,648. The firm has a 50-day moving average of $863.06 and a 200-day moving average of $900.92. The company has a market capitalization of $75.61 billion, a price-to-earnings ratio of 90.86, 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 52-week low of $684.14 and a 52-week 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 (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%. Equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $4.69 dividend. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 15,233 shares in the company, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the sale, the chief financial officer now owns 22,076 shares of the company's stock, valued at approximately $20,085,186.32. The trade was a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 over the last three months. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. JMP Securities restated a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Scotiabank increased their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Truist Financial cut their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Finally, BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Two equities research 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 currently has an average rating of "Buy" and an average target price of $1,007.59.

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.