Taikang Asset Management Hong Kong Co Ltd Sells 2,270 Shares of Equinix, Inc. (NASDAQ:EQIX)

Taikang Asset Management Hong Kong Co Ltd cut its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 43.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,942 shares of the financial services provider's stock after selling 2,270 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd's holdings in Equinix were worth $2,774,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after buying an additional 88,654 shares during the period. State Street Corp grew its holdings in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock worth $5,171,405,000 after acquiring an additional 81,941 shares during the last quarter. Geode Capital Management LLC increased its position in Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider's stock valued at $2,079,591,000 after acquiring an additional 33,277 shares during the period. Principal Financial Group Inc. raised its stake in shares of Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after acquiring an additional 44,471 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 17.9% during 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 purchasing an additional 203,656 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares of the company's stock, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $17,466,950 in the last quarter. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EQIX. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a research report on Thursday. Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. BMO Capital Markets decreased their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Scotiabank boosted their price target 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. Finally, Wells Fargo & Company decreased 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 report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Equinix currently has an average rating of "Buy" and a consensus price target of $993.94.

Equinix Stock Down 2.4 %

Shares of NASDAQ:EQIX traded down $19.75 during midday trading on Friday, hitting $805.56. 261,103 shares of the company's stock were exchanged, compared to its average volume of 543,064. The company has a market cap of $78.41 billion, a PE ratio of 94.27, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. 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 12 month low of $684.14 and a 12 month high of $994.03. The stock has a 50 day moving average price of $898.21 and a 200-day moving average price of $908.63.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.33%. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is currently 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.