Rhumbline Advisers Has $180.97 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Rhumbline Advisers grew its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 191,932 shares of the financial services provider's stock after purchasing an additional 1,015 shares during the quarter. Rhumbline Advisers owned 0.20% of Equinix worth $180,971,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider's stock valued at $960,820,000 after purchasing an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock valued at $354,111,000 after buying an additional 398,494 shares in the last quarter. Adelante Capital Management LLC lifted its position in shares of Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider's stock valued at $456,441,000 after acquiring an additional 344,114 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of Equinix by 49.2% during the 4th quarter. abrdn plc now owns 464,840 shares of the financial services provider's stock worth $437,563,000 after acquiring an additional 153,215 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EQIX shares. BMO Capital Markets cut their target price on 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. Barclays upped their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an "equal weight" rating in a research note on Monday, November 18th. Oppenheimer raised their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Stifel Nicolaus boosted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada raised their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $994.82.

Equinix Stock Up 0.8 %

EQIX traded up $7.18 during trading on Wednesday, reaching $939.08. 529,114 shares of the stock traded hands, compared to its average volume of 507,929. The stock has a market cap of $91.40 billion, a price-to-earnings ratio of 109.83, a price-to-earnings-growth ratio of 2.24 and a beta of 0.72. The stock's 50-day simple moving average is $933.56 and its two-hundred day simple moving average is $899.43. 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 fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS 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%. As a group, equities research analysts expect that Equinix, Inc. will post 33.71 EPS for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is currently 199.30%.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,826 shares of company stock worth $15,555,490. 0.27% of the stock is owned by corporate insiders.

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.