LMR Partners LLP Decreases Holdings in Equinix, Inc. (NASDAQ:EQIX)

LMR Partners LLP reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 31.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,784 shares of the financial services provider's stock after selling 5,877 shares during the period. LMR Partners LLP's holdings in Equinix were worth $11,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Intech Investment Management LLC lifted its stake in shares of Equinix by 151.0% in the first quarter. Intech Investment Management LLC now owns 1,634 shares of the financial services provider's stock worth $1,349,000 after acquiring an additional 983 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Equinix in the first quarter worth approximately $237,000. Edgestream Partners L.P. lifted its stake in shares of Equinix by 191.8% in the first quarter. Edgestream Partners L.P. now owns 1,360 shares of the financial services provider's stock worth $1,122,000 after acquiring an additional 894 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Equinix by 13.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,793 shares of the financial services provider's stock worth $5,607,000 after acquiring an additional 793 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Equinix by 159.4% in the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider's stock worth $1,854,000 after acquiring an additional 1,380 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EQIX. Cfra reaffirmed a "hold" rating on shares of Equinix in a research note on Tuesday, September 24th. Scotiabank boosted their price target on Equinix from $954.00 to $985.00 and gave the company a "sector outperform" rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price target on Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Finally, Hsbc Global Res upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Equinix has an average rating of "Moderate Buy" and a consensus target price of $945.38.

Equinix Stock Performance

NASDAQ:EQIX traded up $6.73 during trading on Monday, reaching $904.10. The company's stock had a trading volume of 175,031 shares, compared to its average volume of 525,045. The firm has a market cap of $87.24 billion, a price-to-earnings ratio of 80.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50 day moving average of $885.56 and a 200-day moving average of $818.53. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.88%. Equinix's dividend payout ratio is presently 153.65%.

Insider Activity

In related news, EVP Raouf Abdel sold 1,022 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares of the company's stock, valued at approximately $4,518,979.08. This represents a 17.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Simon Miller sold 569 shares of the firm's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company's stock, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,654 shares of company stock valued at $11,577,656 in the last 90 days. Insiders own 0.27% of the company's stock.

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.