PGGM Investments Sells 19,360 Shares of Equinix, Inc. (NASDAQ:EQIX)

PGGM Investments trimmed its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 416,165 shares of the financial services provider's stock after selling 19,360 shares during the quarter. Equinix makes up approximately 5.2% of PGGM Investments' holdings, making the stock its largest position. PGGM Investments owned 0.43% of Equinix worth $392,398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in Equinix by 0.3% in the third 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 acquiring an additional 5,910 shares during the period. Assetmark Inc. boosted its position in Equinix by 6.2% during the 3rd quarter. Assetmark Inc. now owns 4,813 shares of the financial services provider's stock valued at $4,272,000 after purchasing an additional 279 shares during the period. Ashton Thomas Securities LLC bought a new position in Equinix during the 3rd quarter worth $121,000. Prime Capital Investment Advisors LLC increased its position in Equinix by 63.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,487 shares of the financial services provider's stock worth $1,320,000 after buying an additional 575 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Equinix by 14.9% in the third quarter. Victory Capital Management Inc. now owns 44,651 shares of the financial services provider's stock valued at $39,634,000 after buying an additional 5,786 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 3,184 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the sale, the chief financial officer now owns 22,076 shares of the company's stock, valued at $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th. Citizens Jmp raised Equinix to a "strong-buy" rating in a report on Monday, January 27th. Royal Bank of Canada increased their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their target price on 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. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $989.35.

Equinix Price Performance

Equinix stock traded up $19.57 during mid-day trading on Monday, hitting $857.25. The company's stock had a trading volume of 902,503 shares, compared to its average volume of 528,993. The stock has a market capitalization of $83.44 billion, a P/E ratio of 100.26, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The stock's fifty day moving average price is $912.40 and its two-hundred day moving average price is $908.72. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

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, 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%. Research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.19%. Equinix's dividend payout ratio is currently 219.42%.

Equinix Company 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.