Russell Investments Group Ltd. Sells 1,975 Shares of Equinix, Inc. (NASDAQ:EQIX)

Russell Investments Group Ltd. reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 495,273 shares of the financial services provider's stock after selling 1,975 shares during the quarter. Equinix accounts for 0.6% of Russell Investments Group Ltd.'s portfolio, making the stock its 15th largest position. Russell Investments Group Ltd. owned approximately 0.51% of Equinix worth $466,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC acquired a new position in shares of Equinix during the 4th quarter worth about $31,000. J.Safra Asset Management Corp bought a new stake in Equinix during the fourth quarter worth about $39,000. Sierra Ocean LLC acquired a new position in Equinix during the fourth quarter valued at approximately $42,000. Dunhill Financial LLC grew its stake in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. acquired a new position in shares of Equinix during the 4th quarter worth approximately $47,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EQIX shares. Barclays raised their target price on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Scotiabank raised their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 3rd. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Truist Financial reduced their price target on Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Finally, Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Two research 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 company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $1,007.59.

Remove Ads

Equinix Price Performance

Equinix stock traded down $26.44 during mid-day trading on Thursday, reaching $770.99. The company had a trading volume of 287,568 shares, compared to its average volume of 553,968. The business has a fifty day simple moving average of $868.89 and a 200 day simple moving average of $902.52. The company has a market cap of $75.04 billion, a P/E ratio of 89.66, a P/E/G ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. 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 issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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, equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.43%. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 341 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company's stock, valued at approximately $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. Insiders have sold 19,054 shares of company stock valued at $17,466,950 in the last ninety days. 0.27% of the stock is currently 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.