NFJ Investment Group LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,066 shares of the financial services provider's stock after purchasing an additional 970 shares during the period. NFJ Investment Group LLC's holdings in Equinix were worth $25,520,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after buying an additional 5,910 shares during the period. Pine Valley Investments Ltd Liability Co increased its stake in Equinix by 49.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider's stock worth $1,414,000 after acquiring an additional 524 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Equinix in the third quarter valued at $582,000. Cim Investment Management Inc. lifted its stake in shares of Equinix by 31.4% in the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider's stock valued at $3,261,000 after purchasing an additional 879 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Equinix by 12.9% during the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider's stock worth $22,880,000 after purchasing an additional 2,940 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Equinix
In related news, 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 completion of the sale, the insider now owns 1,245 shares in the company, valued at $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,040 shares of company stock worth $6,547,068. 0.27% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on EQIX shares. BMO Capital Markets decreased their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Wolfe Research upgraded shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective on the stock in a report on Thursday, March 27th. Truist Financial dropped their target price on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a report on Monday, March 10th. Mizuho decreased 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. Finally, Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Two research 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $1,005.50.
Get Our Latest Stock Report on Equinix
Equinix Stock Performance
NASDAQ EQIX traded up $11.48 on Friday, reaching $790.15. The stock had a trading volume of 479,695 shares, compared to its average volume of 553,711. 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 stock has a market cap of $77.29 billion, a P/E ratio of 92.42, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The business's 50-day moving average price is $847.77 and its 200 day moving average price is $897.45. 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 released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 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%. As a group, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current 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 2.37%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is presently 219.42%.
About Equinix
(
Free Report)
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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