Kayne Anderson Rudnick Investment Management LLC Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 21.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,931 shares of the financial services provider's stock after purchasing an additional 347 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Equinix were worth $1,821,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EQIX. MetLife Investment Management LLC grew its stake in Equinix by 2.9% in the 4th quarter. MetLife Investment Management LLC now owns 28,603 shares of the financial services provider's stock valued at $26,969,000 after acquiring an additional 800 shares during the last quarter. Natixis grew its position in shares of Equinix by 168.9% in the fourth quarter. Natixis now owns 73,200 shares of the financial services provider's stock valued at $69,020,000 after purchasing an additional 45,978 shares during the last quarter. Norinchukin Bank The increased its stake in shares of Equinix by 3.4% during the 4th quarter. Norinchukin Bank The now owns 8,347 shares of the financial services provider's stock worth $7,870,000 after purchasing an additional 274 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Equinix by 398.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,262 shares of the financial services provider's stock worth $24,762,000 after purchasing an additional 20,989 shares during the last quarter. Finally, Capital Research Global Investors increased its position in Equinix by 2.6% during the fourth quarter. Capital Research Global Investors now owns 1,098,700 shares of the financial services provider's stock worth $1,035,953,000 after buying an additional 28,297 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Barclays raised their price target on shares of Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Truist Financial cut their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Scotiabank lowered their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research note on Tuesday. Finally, Mizuho reduced their price target 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. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Equinix currently has a consensus rating of "Buy" and an average target price of $1,004.94.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $791.12 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a market capitalization of $77.39 billion, a price-to-earnings ratio of 92.53, a PEG ratio of 1.78 and a beta of 0.95. The business has a 50-day moving average of $841.89 and a 200-day moving average of $896.22.

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

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.37%. This is a positive change from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is currently 219.42%.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 215 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total transaction of $199,891.95. Following the sale, the insider now directly owns 1,245 shares of the company's stock, valued at $1,157,513.85. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock valued at $6,547,068 in the last ninety days. 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.

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