Equinix, Inc. (NASDAQ:EQIX) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,724 shares of the financial services provider's stock after selling 455 shares during the quarter. WASHINGTON TRUST Co's holdings in Equinix were worth $20,484,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank Pictet & Cie Europe AG purchased a new position in Equinix in the fourth quarter valued at $2,027,000. Valeo Financial Advisors LLC raised its position in Equinix by 0.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,767 shares of the financial services provider's stock valued at $2,609,000 after purchasing an additional 26 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Equinix by 57.5% in the 4th quarter. Vontobel Holding Ltd. now owns 4,969 shares of the financial services provider's stock valued at $4,685,000 after buying an additional 1,814 shares during the period. Catalyst Financial Partners LLC grew its position in shares of Equinix by 4.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 477 shares of the financial services provider's stock worth $450,000 after buying an additional 20 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of Equinix by 5.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 193,000 shares of the financial services provider's stock worth $181,933,000 after buying an additional 9,172 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ EQIX traded up $7.18 during midday trading on Wednesday, reaching $939.08. 529,114 shares of the company were exchanged, compared to its average volume of 507,929. The stock has a fifty day simple moving average of $933.56 and a 200 day simple moving average of $899.43. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market cap of $91.40 billion, a P/E ratio of 109.83, a PEG ratio of 2.24 and a beta of 0.72. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

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 (EPS) for the quarter, beating 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, research analysts forecast that Equinix, Inc. will post 33.71 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.00%. Equinix's payout ratio is presently 199.30%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the company's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares of the company's stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the transaction, the chief financial officer now owns 18,966 shares of the company's stock, valued at $18,419,399.88. The trade was a 7.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,826 shares of company stock worth $15,555,490 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on EQIX. Oppenheimer lifted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Truist Financial boosted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a "buy" rating in a research note on Friday, November 29th. BMO Capital Markets cut their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Barclays upped their price objective on Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $994.82.

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.