Metis Global Partners LLC Buys 6,866 Shares of Equinix, Inc. (NASDAQ:EQIX)

Metis Global Partners LLC grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 38.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,838 shares of the financial services provider's stock after purchasing an additional 6,866 shares during the period. Equinix makes up approximately 0.7% of Metis Global Partners LLC's holdings, making the stock its 19th largest position. Metis Global Partners LLC's holdings in Equinix were worth $23,420,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Kestra Investment Management LLC bought a new stake in Equinix during the 4th quarter valued at about $31,000. Sierra Ocean LLC bought a new stake in shares of Equinix during the fourth quarter valued at approximately $42,000. Dunhill Financial LLC raised its holdings in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after acquiring an additional 25 shares during the last quarter. Thompson Investment Management Inc. bought a new position in Equinix in the 4th quarter valued at approximately $47,000. Finally, Key Financial Inc lifted its position in Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 14 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

Shares of EQIX traded up $10.98 during mid-day trading on Wednesday, reaching $921.02. The stock had a trading volume of 486,850 shares, compared to its average volume of 542,860. The business has a fifty day moving average of $926.82 and a 200 day moving average of $906.82. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $89.64 billion, a price-to-earnings ratio of 107.72, a PEG ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

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 for the quarter, topping 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%. Equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.04%. Equinix's payout ratio is currently 219.42%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EQIX. JMP Securities restated a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Wells Fargo & Company lowered their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Truist Financial raised their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. Royal Bank of Canada increased 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. Finally, Scotiabank lifted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a research report on Monday. Three research 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 stock. According to MarketBeat.com, Equinix currently has a consensus rating of "Buy" and an average target price of $995.24.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 684 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurt Pletcher sold 215 shares of the firm'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 transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,054 shares of company stock valued at $17,466,950. Corporate 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.