MML Investors Services LLC Has $4.04 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

MML Investors Services LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,279 shares of the financial services provider's stock after selling 1,001 shares during the period. MML Investors Services LLC's holdings in Equinix were worth $4,035,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in Equinix in the fourth quarter worth $31,000. J.Safra Asset Management Corp bought a new stake in Equinix during the 4th quarter valued at about $39,000. Sierra Ocean LLC purchased a new position in Equinix in the fourth quarter worth about $42,000. Thompson Investment Management Inc. purchased a new stake in shares of Equinix during the fourth quarter valued at approximately $47,000. Finally, Key Financial Inc raised its holdings in Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock worth $57,000 after acquiring an additional 14 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EQIX. Citigroup lowered their price target on Equinix from $1,020.00 to $970.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Mizuho decreased their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research note on Friday, March 28th. BMO Capital Markets dropped their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Wolfe Research upgraded Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective for the company in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $1,004.94.

Equinix Stock Performance

NASDAQ:EQIX traded up $6.97 during mid-day trading on Tuesday, hitting $851.65. The stock had a trading volume of 593,015 shares, compared to its average volume of 550,204. The company has a 50 day simple moving average of $833.33 and a 200-day simple moving average of $895.13. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The stock has a market capitalization of $83.31 billion, a price-to-earnings ratio of 99.61, a P/E/G ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

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

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio is currently 219.42%.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 3,562 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total value of $3,309,240.48. Following the transaction, the chairman now directly owns 15,513 shares in the company, valued at approximately $14,412,197.52. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is owned by insiders.

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.