US Bancorp DE Grows Position in Equinix, Inc. (NASDAQ:EQIX)

US Bancorp DE increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 21.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,004 shares of the financial services provider's stock after acquiring an additional 9,135 shares during the period. US Bancorp DE owned about 0.05% of Equinix worth $49,035,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Associates Ltd. lifted its stake in Equinix by 10.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 536 shares of the financial services provider's stock valued at $476,000 after acquiring an additional 51 shares in the last quarter. Financial Advocates Investment Management lifted its position in shares of Equinix by 33.0% during the third quarter. Financial Advocates Investment Management now owns 854 shares of the financial services provider's stock valued at $758,000 after purchasing an additional 212 shares in the last quarter. Gladstone Institutional Advisory LLC purchased a new position in Equinix during the third quarter worth about $235,000. Farther Finance Advisors LLC boosted its holdings in Equinix by 3.6% during the third quarter. Farther Finance Advisors LLC now owns 862 shares of the financial services provider's stock worth $765,000 after purchasing an additional 30 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in Equinix in the 3rd quarter worth about $247,000. Institutional investors own 94.94% of the company's stock.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 341 shares of Equinix 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 of the company's stock, valued at approximately $1,292,319.60. The trade was a 19.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The shares were 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 directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

NASDAQ EQIX traded up $10.98 during trading hours on Wednesday, hitting $921.02. The company had a trading volume of 486,861 shares, compared to its average volume of 542,896. The firm has a 50 day simple moving average of $926.24 and a 200 day simple moving average of $906.92. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The firm has a market capitalization of $89.64 billion, a price-to-earnings ratio of 107.72, a PEG ratio of 1.78 and a beta of 0.72. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX - Get Free Report) last issued 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%. Equities research analysts expect 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 will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.04%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix's payout ratio is presently 219.42%.

Analyst Ratings Changes

EQIX has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price 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. Citizens Jmp upgraded Equinix to a "strong-buy" rating in a report on Monday, January 27th. BMO Capital Markets reduced their price objective on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company lowered their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Oppenheimer increased their price target 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. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $995.24.

Equinix Company 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.