Lasalle Investment Management Securities LLC Lowers Stake in Equinix, Inc. (NASDAQ:EQIX)

Lasalle Investment Management Securities LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 271,425 shares of the financial services provider's stock after selling 6,966 shares during the quarter. Equinix comprises 10.8% of Lasalle Investment Management Securities LLC's holdings, making the stock its biggest position. Lasalle Investment Management Securities LLC owned 0.28% of Equinix worth $255,924,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC bought a new stake in Equinix in the fourth quarter valued at about $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 Equinix during the 4th quarter worth approximately $42,000. Thompson Investment Management Inc. acquired a new position in Equinix during the fourth quarter valued at approximately $47,000. Finally, Key Financial Inc increased its stake in Equinix by 30.4% in the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 215 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the sale, the insider now owns 1,245 shares of the company's stock, valued at approximately $1,157,513.85. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were 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 owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,040 shares of company stock worth $6,547,068. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

EQIX has been the subject of several research analyst reports. Cfra Research raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Citizens Jmp upgraded Equinix to a "strong-buy" rating in a report on Monday, January 27th. Mizuho dropped their price target on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. Citigroup decreased their price objective on Equinix from $1,020.00 to $970.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Truist Financial cut their price target on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $1,004.94.

Equinix Stock Performance

EQIX stock traded up $18.20 during trading hours on Wednesday, reaching $809.32. The stock had a trading volume of 640,119 shares, compared to its average volume of 552,624. The stock has a 50-day simple moving average of $841.89 and a 200 day simple moving average of $896.22. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock has a market capitalization of $79.17 billion, a PE ratio of 94.66, 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 current ratio of 1.63 and a quick ratio of 1.63.

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, beating 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%. Analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.32%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix's payout ratio is 219.42%.

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.