Prudential PLC Sells 2,000 Shares of Equinix, Inc. (NASDAQ:EQIX)

Prudential PLC decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,281 shares of the financial services provider's stock after selling 2,000 shares during the period. Prudential PLC's holdings in Equinix were worth $17,237,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EQIX. Norges Bank purchased a new stake in shares of Equinix during the fourth quarter worth about $1,067,270,000. Wellington Management Group LLP increased its holdings in Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after purchasing an additional 401,991 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Equinix during the 4th quarter valued at approximately $328,899,000. Proficio Capital Partners LLC acquired a new stake in shares of Equinix during the fourth quarter worth approximately $246,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ EQIX traded down $18.47 during midday trading on Monday, reaching $747.74. 920,126 shares of the company traded hands, compared to its average volume of 553,455. The stock has a 50-day moving average price of $883.46 and a 200 day moving average price of $906.83. The company has a market cap of $72.78 billion, a price-to-earnings ratio of 87.45, a PEG ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

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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, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.51%. Equinix's dividend payout ratio (DPR) is 219.42%.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now directly owns 15,233 shares in the company, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $643,308.84. Following the sale, the insider now owns 8,377 shares of the company's stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective for the company in a report on Thursday, March 27th. JMP Securities restated a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Barclays lifted their price objective on shares of Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Finally, Royal Bank of Canada raised their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $1,007.59.

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.