Shelton Capital Management Sells 1,919 Shares of Equinix, Inc. (NASDAQ:EQIX)

Shelton Capital Management trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 78.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 536 shares of the financial services provider's stock after selling 1,919 shares during the quarter. Shelton Capital Management's holdings in Equinix were worth $505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Employees Retirement System of Texas increased its position in Equinix by 55.4% during the 4th quarter. Employees Retirement System of Texas now owns 77,370 shares of the financial services provider's stock valued at $72,951,000 after purchasing an additional 27,570 shares during the period. Bank of Montreal Can increased its position in shares of Equinix by 12.5% during the fourth quarter. Bank of Montreal Can now owns 132,228 shares of the financial services provider's stock worth $124,677,000 after buying an additional 14,654 shares during the period. Cerity Partners LLC raised its stake in Equinix by 21.3% during the fourth quarter. Cerity Partners LLC now owns 11,800 shares of the financial services provider's stock worth $10,861,000 after buying an additional 2,072 shares during the last quarter. FMR LLC lifted its holdings in Equinix by 3.7% in the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after buying an additional 81,144 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Equinix by 13.7% during the 4th quarter. Federated Hermes Inc. now owns 13,268 shares of the financial services provider's stock worth $12,510,000 after acquiring an additional 1,599 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, 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 transaction, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several research analyst reports. Truist Financial cut their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price on the stock in a research note on Thursday, March 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Finally, Scotiabank increased their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $1,007.59.

Equinix Stock Performance

EQIX traded up $8.29 during trading on Tuesday, hitting $792.16. 106,583 shares of the company traded hands, compared to its average volume of 650,413. The firm has a market cap of $77.10 billion, a P/E ratio of 92.65, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. 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, Inc. has a one year low of $684.14 and a one year high of $994.03. The stock's fifty day moving average is $860.01 and its 200 day moving average is $900.38.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Equinix, Inc. will post 33.1 EPS 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 paid a dividend of $4.69 per share. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.37%. Equinix's dividend payout ratio is presently 219.42%.

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.